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Question
Identify and explain the concept from the given illustration:
Maharashtra purchased wheat from Punjab.
Solution
Concept: Internal trade
Explanation:
- The buying and selling of goods and services within the boundaries of a nation are referred to as ‘Internal Trade’ or ‘Domestic Trade’ or ‘Home Trade’.
- The state of Maharashtra and the state of Punjab are the states of India and hence trade between these states is called internal trade.
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RELATED QUESTIONS
Distinguish between Internal trade and International trade.
Answer in one sentence
What do you mean by internal trade?
Correct the underlined word and rewrite the following sentence:
When the trade activities are conducted between two or more countries, it is called as internal trade.
Buying and selling of goods and services within the boundaries of a nation are referred to as ______.
Identify & explain the concept from the given illustration.
Tamil Nadu purchases wheat from Punjab and Uttar Pradesh.
Complete the correlation:
Trade between India and Iran : International trade : : Trade between Maharashtra and Madhya Pradesh : ______
Identify and explain the concept from the given illustration:
Maharashtra sold mangoes to Himachal Pradesh.
Explain the concept of internal trade.
