Are the concepts of demand for domestic goods and domestic demand for goods the same?
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Are the concepts of demand for domestic goods and domestic demand for goods the same?
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Domestic demand for goods and domestic demand for goods are comparable concepts in a closed economy. These two phrases, however, have different meanings in an open economy. Demand for domestic commodities comes from both domestic and international sources. Local demand for goods, on the other hand, refers to a country's domestic market demand for items produced either domestically or overseas (foreign countries).
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