Buying and selling of goods and services within a country is referred to as

GEOGRAPHY
WAEC 2023

Buying and selling of goods and services within a country is referred to as

  • A. foreign trade
  • B. international trade
  • C. barter trade
  • D. internal trade

Correct Answer: D. internal trade

Explanation

The buying and selling of goods and services within a country is termed as 'internal trade'. This is because it involves transactions that are carried out within the geographical boundaries of a country. International trade, on the other hand, involves transactions between different countries. Barter trade is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. Foreign trade is a broader term that includes both imports and exports.



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