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Differences between International and Internal Trade

Question

Analyse ways in which international trade differs from internal trade.

Category:

International Trade and Exchange Rates

Frequently asked question

Preview Answer

I. 🍃Introduction
- Definition of international trade
- Importance of international trade

II. Cost of International Trade
- Increased cost of transport
- Longer delivery times

III. Benefits of International Trade
- Access to a bigger market
- Increased competition
- Economies of scale

IV. Challenges of International Trade
- Use of different currencies
- Trade restrictions
- Differences in tastes and cultures
- Differences in regulations
- Language barriers

V. 👉Conclusion
- Summary of key points
- Importance of addressing challenges in international trade.

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