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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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INTERNATIONAL TRADE

The exchange of goods and services among the nations of the world. Also termed foreign trade when viewed from the perspective of a given country, the international exchange of production is comparable to any exchange, except that buyers and sellers are from different countries. The study of international trade highlights an important economic principle, the law of comparative advantage, which helps to explain not only why nations engage in trade but why individuals engage in trade. A related area of study is international finance, both of which are part of the broader study of international economics.

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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for defective microphones.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"The human race has only one really effective weapon and that is laughter."

-- Mark Twain

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