What is the term used to describe the buying and selling of goods and services between different countries?
Understand the Problem
The question is asking for the correct term that describes the exchange of goods and services across national borders. It provides four options to choose from, indicating a focus on international economic interactions.
Answer
International trade.
The term is international trade.
Answer for screen readers
The term is international trade.
More Information
International trade enables countries to access goods and services not available domestically, increases market size for businesses, and contributes significantly to global economic growth.
Tips
Confusing international trade with domestic trade; domestic trade happens within the same country, while international involves multiple countries.
Sources
- What is international trade? - Investopedia - investopedia.com
- International trade - Definition, Example, Advantages - Corporate Finance Institute - corporatefinanceinstitute.com
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