Buying and selling of goods and services within the geographical areas of a country is called?
Answer Details
The term used to describe the buying and selling of goods and services within the geographical areas of a country is "domestic trade."
Domestic trade refers to the exchange of goods and services between buyers and sellers within the borders of a single country. This can include the sale of goods and services between businesses (B2B), between businesses and consumers (B2C), and between consumers (C2C).
Examples of domestic trade include the purchase of groceries at a local supermarket, the sale of a car between two individuals, and the exchange of goods and services between businesses in the same country.
In contrast, external trade (also known as international trade) involves the exchange of goods and services between buyers and sellers in different countries. This can include the import and export of goods, as well as other international business transactions such as foreign investment and licensing agreements.