International trade and domestic trade are similar in all aspects except that
Answer Details
International trade and domestic trade share many similarities, such as the exchange of goods and services and the involvement of transportation by land, water, and air. However, the main difference between the two is that international trade involves the exchange of goods and services between different countries that may have different currencies, while domestic trade involves the exchange of goods and services within a country using the same currency. This difference in currency can create unique challenges, such as currency exchange rates and trade restrictions, that do not exist in domestic trade. Additionally, international trade can also lead to increased specialization and consumption as countries focus on producing and exporting goods in which they have a comparative advantage.