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Foreign Trade
Bus JC
Term | Definition |
---|---|
Foreign Trade | Buying and Selling with Many Counctries |
Importing | Buying Goods/Services from Abroad |
Exporting | Selling Goods and Services Abroad |
Visible Trade | Buying and Selling of Goods |
Invisible Trade | Buying and Selling Services |
Balance of Trade | Visible Export - Visible Imports |
Balance of Payments | Total Exports - Total Imports |
Exchange Rates | The value of your currency abroad |
Import Substitution | When you produce in your own country what you use to import before |