What does the term "international" refer to?

The term "international" specifically refers to interactions, activities, or relations that involve two or more nations. This encompasses a wide range of activities such as trade, diplomacy, and cultural exchange that occur across national borders. In the context of business and operations, international typically relates to companies or economic activities that operate or engage with entities in multiple countries, highlighting the interconnectedness of global markets.

The other options define terms in more restrictive or localized contexts. For instance, focusing on a single nation is a domestic concern, while private businesses indicate a lack of governmental involvement, which does not capture the broader scope of international definitions. A local business transaction pertains to activities confined within a specific community or area, again failing to encompass the broader, multi-national aspect that characterizes the term "international." Therefore, the correct answer reflects the expansive nature of relationships and activities that encompass multiple nations.