review unit 9

Balance of trade

• the difference between the money that a country receives from exports and the money it spends on importants

•        a sustained increase in the general price level of goods and services, and consequently, the purchasing power of currency is falling

• financial activities involving very large amounts of money, for example with goverments or large companies.

Gross national product = GNP

•   financial activities involving very large amounts of money, for example with goverments or large companies.

• the total value of all the goods and services produced in a country, usually in a single year

• series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity

High finance

•       the difference between the money that a country receives from exports and the money it spends on importants

•        a sustained increase in the general price level of goods and services, and consequently, the purchasing power of currency is falling

• financial activities involving very large amounts of money, for example with goverments or large companies

Economic indicators

• exporting goods at prices lower than the home-market prices

• series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity

• a sustained increase in the general price level of goods and services, and consequently, the purchasing power of currency is falling

Trade bloc

• series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity

•  a set of countries which engage in international trade together, and are usually related through a free trade agreement or other association

•       the difference between the money that a country receives from exports and the money it spends on importants

Trade deficit

• a situation in which the value of goods a country imports is greater than the value of goods it export, or the size of this difference

•       a sustained increase in the general price level of goods and services, and consequently, the purchasing power of currency is falling

•       the value of goods and services produced in a country or area

  High finance: financial activities involving very large amounts of money, for example with goverments or large companies

Inflation

•        a sustained increase in the general price level of goods and services, and consequently, the purchasing power of currency is falling

•     the value of goods and services produced in a country or area

• a set of countries which engage in international trade together, and are usually related through a free trade agreement or other association

Ecomic output

• the value of goods and services produced in a country or area

• series of statistical figures, such as the consumer price index or the gross domestic product, used by economists to predict future economic activity

barriers (noun)

• something that prevents something else from happening or makes it more difficult

  
  

•  a situation in which goods and people can enter and leave a country easily

  
  

• the practice of selling goods in another country so cheaply that companies in that country cannot compete fairly

  
  

 open border (noun

• a tax on goods coming into or going out of a country

  
  

• a situation in which goods and people can enter and leave a country easily

  
  

• the idea that businesses should be free to develop without the involvement or control of government