WAEC - Geography (2023 - No. 38)

The buying and selling of goods and services within a country is termed as 'internal trade'. This is because it involves transactions that are carried out within the geographical boundaries of a country. International trade, on the other hand, involves transactions between different countries. Barter trade is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. Foreign trade is a broader term that includes both imports and exports.