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8 Cards in this Set
- Front
- Back
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The difference between the value of a nation's exports and its imports.
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Balance of Trade
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The difference between all monies coming into a country and going out of a country.
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Balance of Payments
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The advantage achieved when a nation can produce a good or service for less than another nation.
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Absolute Advantage
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The advantage achieved by a nation from specializing in and producing goods and services at which it is relatively most efficient.
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Comparative Advantage
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The money that a country uses to buy and sell goods and services.
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Currency
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The currency used in the United States or Canada.
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Dollar
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The buying and selling of goods and services within a country.
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Domestic Trade
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The common currency used in many European nations.
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Euro
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