Distinction Between Domestic And International Trade - SS3 Economics Past Questions and Answers - page 1
What is the main difference between domestic and international trade?
Domestic trade takes place within a country's borders, while international trade involves transactions between different countries
Domestic trade involves the exchange of goods and services within a region, while international trade involves transactions across continents
Domestic trade is subject to fewer regulations than international trade
Domestic trade is limited to physical marketplaces, while international trade is conducted exclusively online
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Which of the following is an example of domestic trade?
An American company importing goods from China
A farmer selling produce to a local grocery store
A French company exporting wine to Germany
A British firm investing in a factory in India
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What is one key challenge associated with international trade?
The complexity of regulations and logistics
Limited access to global markets
Lack of interest from foreign buyers
Reduced competition among suppliers
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Which of the following is a potential benefit of domestic trade?
Increased access to global markets
Greater cultural diversity
Lower transportation costs
Reduced competition among suppliers
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What is one way that international trade differs from domestic trade in terms of regulations?
International trade is subject to more regulations than domestic trade
Domestic trade is subject to more regulations than international trade
International and domestic trade are subject to the same regulations
Regulations do not apply to either international or domestic trade
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How does domestic and international trade differ in terms of the geographic scope of transactions?
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What are some of the key factors that can affect the regulation and logistics of international trade?
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