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Consumer | the person that buys it |
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producer | the person that makes it |
interdependent | they rely on each other |
import | bring in or bought |
export | sell or get rid fof take out u get the point |
balance of trade | the diffrence between a countries import and export earninggs |
trade surplus | if a country earns more on exports than imports (good) |
trade defict | if a country spedns more on imports than it earns on exports |
trade blocs | countries that make trading between them cheap as chips |
free trade | free |
trade barriers | limit trades such as traffis which is taxes on import/exports |
qouta | im pretty sure u know that |
susidise | be nice to industries so they dont have to pay tax for a bit |
primiary products | plants or raw ore see what i did there |
wto | waa toooooooo |