Business Studies

Which of the following is true in relation to internal trade?


ANSWER

All of the above


SOLUTION
  • Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade.
  • No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption.
  • Generally, payment has to be made in the legal tender of the country or any other acceptable currency.
  • Internal trade can be classified into two broad categories viz., (i) wholesale trade and (ii) retail trade.
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Single Correct Medium Published on 18th 08, 2020
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