Question

Trade between two or more countries is termed as _______?
a. External
b. International trade
c. Internal trade
d. Trans nation trade

Answer 1

Hint: International trade is the exchange of capital, goods, and services across international borders or territories. Trade and Payment Agreements are separated by international trade by business and payment agreements.

Complete solution:
Various economic instruments are adopted to achieve their interests in the international arena, which Palmer and Perkins have named the 'economic arsenal'. A variety of economic instruments are adopted for the promotion of national interests. When and how to use which instrument depends on the economic goals and political objectives of the state. Generally, the following economic means are used -

Taxes - Tariff is a type of duty or tax levied on goods that are imported or exported. Imports have been taxed since ancient times and its main purpose is to get revenue. The octroi duty which is payable to the state is called revenue duty and that which is to protect the internal industries from the competition of foreign industries, it is called the Protection duty. In the 16th and 17th centuries, the first-ever tax protection duty policies were adopted because economic nationalism emerged due to unprecedented growth in commerce.

EmbarGo - If a state in another state, then it is a respective trader and business institution from the second state to transaction or trade. Use of Ghat Bandi is commonly used to punish a state. From 1949, the United States towards China had followed this type of policy which has now been finished.

International Cartels have come out from the word 'Karta', which means agreement or anchored. Cartel is the organization of independent enterprises related to the business of similar nature, which are manufactured for some restraint on mutual competition. When members of this institution consist of different countries or do business abroad, they take international form. The main element of the cartels is a compromise among various business organizations, which is to influence international wisdom in favour of the Cartels. Their main objectives have to regulate the wisers and they are trying to do that no one has been established in the market. They protect the interests of vendors. They have no relation to consumers. The State Government may participate in the Carts Organization, but often governments do not do this. Cartels are of three types whose division is done on the following bases -
(i) determining the price.
(ii) limiting production.
(iii) that divides the territories of the sale.

Hence, the correct answer is option b.

Note:
Trade and Payment Agreements are separated by international trade by business and payment agreements. These agreements can also be between two countries or more than two countries. Through these agreements, international trade is stopped by international trade by giving special protection to discrimination and favourable nations from some countries.