International market
Also called: foreign market · Topic: Globalisation and MNCs · NCERT: Class 7, Ch 12 "Understanding Markets"
Meaning
An international market is any market outside a country's borders. Goods and services are exported to it or imported from it. It lets producers sell beyond their home market, and it gives buyers goods their own country does not make. Globalisation has joined many such markets together, so producers in distant countries now compete closely with one another.
Example
Ford set up a plant near Chennai in 1995. By 2017 it had sold 88,000 cars in India and exported 1,81,000 cars to South Africa, Mexico, Brazil and the USA. Those four countries were international markets for cars made in India.
Don't confuse with
- Domestic market: buyers and sellers inside the same country. No goods cross a border.