The Total solution for NCERT class 6-12
Points of difference
International trade
International business
Definition
International trade refers to the exchange of goods and services across the international boundaries of countries.
International business includes movement of capital, personnel, technology and intellectual property such as trademarks, know-how and copyrights, besides international trade.
Scope
Narrower
Wider (as it includes much more than international trade)
Implications
International trade involves the movement of finished goods and raw material as exports and imports across countries.
International business involves the movement of goods and services, emigration and immigration of human capital, and exchange of technology, technical know-how, copyrights and trademarks.