Internation Trade Flashcards
(6 cards)
1
Q
Balance of trade
A
The ratio of difference of imports to exports
2
Q
Trade deficit
A
Spending more on imports than is earned from exports
3
Q
Trade surplus
A
Earning more on exports than is spent on imports
4
Q
Imports
A
Bought products
5
Q
Exports
A
Sold products
6
Q
A
