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Difference between home trade and foreign trade
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[QUOTE="PICKFORD, post: 209004, member: 37913"] As its name implies hometrade has to do with within a particular area to be precise in geographical area. to be more specific it is the act of buying and selling goods within a geographical area usually a country home trade can otherwise be referred to as domestic or internal trade one thing to note about home to is that the currency used for exchange within-day countries are the same in Nigeria home trade is a branch of commerce which comprises wholesaling and retailing. Otherwise call international trade is the exchange of goods and services between two or more countries the principle underlying the buying and selling between one country and another is specialisation therefore the theory about this kind of trade is based on principle of comparative cost. In Nigeria goods like automobiles and electronics shipped from oversea countries and intern whistle coco palm oil rubber to other countries. Just like home trade has wholesale trade and retail trade, foreign trade also have bilateral trade multilateral trade, to further explain there are some similarities between the both trade example both international trade and home trade involve the use of money as a medium of exchange, they also similarin that they both involve a degree of specialisation between the trading partners since specialisation causes exchange. [/QUOTE]
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