Internal Trade Test - 25

Trade between two countries can be useful if the cost ratios of goods are different.

As long as the cost ratio for commodities differs between the two countries, one of them will be better at making that commodity than the other. This means that trade between the two countries can be good.

State Goods and Services Tax (SGST) is applicable on the intra-state supply of goods and services within a state or union territory in India.

Chain Stores refer to a chain of retail stores at different locations in a country that are run and managed by the same oraganisation. They provide a limited selection of goods because they sell goods that are produced by their oraganisation itself.

Contract manufacturing is basically the outsourcing of part of the manufacturing process of a product to a third party. It is used by many U.S. companies. Hence, outsourcing a part or entire production and concentrating on marketing operations in international business is known as contract manufacturing.

Central Goods and Services Tax (CGST) is the tax levied by the central government on the intra-state supply of goods and services.

Essential items like food grains and cereals are typically taxed at a 0% GST rate to ensure affordability and accessibility to basic necessities.

Vending machines are costly to establish which is one of its limitations. One of the shortfalls is that this technology gives no provision for bargaining and therefore fixed prices apply.

ICICI is a banking company and not concerned with Chambers of Commerce & Industry

The franchiser allows the franchisee to use his trademark under a license to start a business franchise and its processes.

NDTV News Channel is a media company. Chain stores typically refer to retail outlets that are part of a group or chain of stores operating under the same brand or ownership. They often sell similar products or services across different locations.