1.

Distinguish between domestic business and international business.

Answer»

The two differences between domestic and international business are:

Basis of differenceDomestic BusinessInternational business
1. Territorial limitsDomestic business takes place between the geographical boundaries of a nation. In other words, domestic business takes place between buyers and sellers of the same nation.International business takes place between different nations. In other words, the buyers and sellers in international business belong to different nations.
2. Homogeneity or heterogeneity of marketsDomestic markets are relatively more homogeneous in nature.International markets are heterogeneous in nature.


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