http://www.flickr.com/photos/amagill/3366720659 / is the buying and selling of goods between countries of the World.
Imports are the goods that countries buy from others. http://www.worldmapper.org/display.php?selected=90
Exports are the goods that countries sell to others. http://www.worldmapper.org/images/largepng/89.png
http://www.flickr.com/photos/amagill/3366720659 / is the difference between the exports and imports of a country.
When the imports of a country are greater than its exports. http://www.flickr.com/photos/articnomad/8806988/
When the exports of a country are greater than its imports. http://www.flickr.com/photos/amagill/3367543296/
Country Export Import Surplus or deficit? A $100bn $120bn B $25bn $20bn C $15bn $14bn D $3bn $3bn
The country doesn’t have to take out loans to fund public projects and services.
The country can invest in infrastructure and services.
These improvements will help improve the quality of life in the country.
The country can help industry develop and maintain it’s competitiveness, through grants and subsidies.
There are a number of advantages to having a trade surplus http://www.flickr.com/photos/hmtreasury/4720955639/in/set-72157624207966917/
http://www.flickr.com/photos/amagill/3367543296/ is the buying and selling of good between countries without import taxes , quotas or subsidies . It is a level playing field.
http://www.flickr.com/photos/amagill/3367543296/ is when a country seeks to protect its own industry by placing restrictions on the goods of foreign countries, using import taxes , quotas and subsidies .