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UNFAVORABLE BALANCE OF TRADE: An imbalance in a nation's balance of trade in which the payments for merchandise imports made by the country exceed payments for merchandise exports received by the country. This is also termed a balance of trade deficit. It's considered unfavorable because more goods are imported into the country than are exported out, meaning that domestic production is replaced with foriegn production, which then reduces domestic employment and income. A balance of trade deficit is often the source of a balance of payments deficit.
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SCARCE RESOURCES Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Scarce resources, also termed just resources, are often given the more descriptive term factors of production.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market looking to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects. " -- Alexis de Tocqueville, statesman, author
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CBOE
Chicago Board Options Exchange
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