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JAMB Economics 1984 Question 41

Question 41

International Trade

The following except ONE, are the differences between international trade and internal trade

  1. A.Differences in currencies
  2. B.Government control
  3. C.Mobility of factors of production
  4. D.Cultural differences
  5. E.Exchange of goods
Show the answer and explanation

Answer: E (Exchange of goods)

Explanation

Both internal and international trade involve exchange of goods, so that is not a difference; currencies, controls, factor mobility and culture do differ.