ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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trade
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barter
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Either A or B
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None of the above
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Detailed explanation-1: -activity Trade is the activity of buying, selling, or exchanging goods or services between people, firms, or countries.
Detailed explanation-2: -trade. / (treɪd) / noun. the act or an instance of buying and selling goods and services either on the domestic (wholesale and retail) markets or on the international (import, export, and entrepôt) marketsRelated adjective: mercantile.
Detailed explanation-3: -trade noun (BUYING AND SELLING) the activity of buying and selling, or exchanging, goods and/or services between people or countries: The country’s trade in manufactured goods has expanded in the last ten years.
Detailed explanation-4: -Solution. Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade.
Detailed explanation-5: -Generally, there are two types of trade-domestic and international. Domestic trades occur between parties in the same countries. International trade occurs between two or more countries. A country that places goods and services on the international market is exporting those goods and services.