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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