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Terms in this set (13)
Trade or services going out of a country and money going in.
Trade or service going in a country and money leaving.
An exchange of goods
Balance of trade
Difference in value between exports and imports of a country.
More exports than imports in a country
resources found in an area's geography and natural surroundings
a tax imposed on goods or services
Shielding a country's domestic industries from foreign competition by taxing imports. Trying to protect your country's balance of trade.
A decision between 2 or more consenting parties to exchange goods.
Wealth in the form of money.The wealth that you have at your disposal to spend.
Goods and Services
Outcome of human efforts to meet the needs of other people. Goods: Physical objects or materials. Services: A job or work a person does for others
A raw material or agricultural crop like coffee or copper
almost no taxes
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