Trade DefinitionsSelect a letter to browse the items in the glossary: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
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Return to top Which of the following refers to the total value of all the exports and imports?World trade is the flow of goods and services among different countries—the value of all the exports and imports of the world's nations.
When the total value of exports is higher than the total value of imports a country experiences?If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance.
Is the difference between a country's total exports and total imports?Balance of trade (BOT) is the difference between the value of a country's exports and the value of a country's imports for a given period.
Which of the following terms refers to the trade between countries and markets around the world?Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
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