Q.Give one example each of a local market and an international market.

Examples of area-based classification should reflect how widely the buyers and sellers of that product are actually spread. …

A local market is one confined to a small geographical area, generally because the product involved is perishable or has demand limited to that locality — the market for fresh flowers or fresh vegetables grown and sold within a single town is a typical example, since transporting such perishable produce over long distances is impractical or uneconomical. An international market, on the other hand, spans across countries, usually for standardised commodities that are traded through established global trade channels — crude oil is a well-known example, being extracted, refined, and trade …

Students sometimes give an example that does not clearly justify the category chosen — always pick an example whose perishability/bulk (for local) or standardisation/global trade infras …