011-40705070  or  
Call me
Download our Mobile App
Select Board & Class
  • Select Board
  • Select Class
 

Are the concepts of demand for domestic goods and domestic demand for goods the same?

Asked by Lalit Singh(student) , on 29/6/10


Become Expert
Score more in Economics
Start Now with Video Lessons, Sample Papers, Revision Notes & more for Class-XII-Commerce - CBSE 

EXPERT ANSWER

In a closed economy, the demand for domestic goods and domestic demand for goods are similar terms. However, in an open economy, these two terms have different meanings. Demand for domestic goods includes both domestic and foreign demand for domestic goods. Whereas, domestic demand for goods refers to the domestic market demand of a country, that is either produced domestically or abroad (foreign countries).

Posted by Bhawna Madaan(MeritNation Expert)on 29/6/10

This conversation is already closed by Expert

Ask a QuestionHave a doubt? Ask our expert and get quick answers.
Show me more questions

close