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business

chap 15

TermDefinition
importing purchasing goods and services from other countries
exporting the sale of goods and services to other counties
visible trade exporting and importing physical goods
invisible trade importing and exporting services
balance of trade a statement of the visible imports and visible exports
BOT visible exports-visible imports
balance of payment the difference between all money coming in and going out of the country
BOP total exports-total imports
import substitution the purchase of Irish goods instead of foreign imports
exchange rate the quality of a foreign currency witch can be purchased for one euro
comission a fee charged for changing currency
Created by: zaweckute
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