International trade and exchange rates Flashcards
1
Q
Surplus
A
Amount of something that is more than what is needed
2
Q
Exports
A
Goods and services sold overseas
3
Q
Imports
A
Goods and services received from overseas
4
Q
Invisible trade
A
Trade in services
5
Q
Visible trader
A
Trade in physical goods
6
Q
Balance of trade
A
Difference between visible exports and visible imports.
7
Q
Transactions
A
Business deals or actions such as buying or selling
8
Q
Exchange rate
A
Value of one currency in terms of another
9
Q
Commission extra
A
Extra amount of money paid to a person or organization according to the value of the good they have sold
