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BALANCE OF TRADE: The difference between funds received by a country when exporting merchandise and the funds paid for importing merchandise. The balance of trade is a major part of the current accounts portion of the balance of payments. A balance of trade surplus results if exports exceed imports, commonly termed a favorable balance of trade, and a balance of trade deficit exists if imports exceed exports, analogously termed an unfavorable balance of trade. The "favorable" and "unfavorable" normative connotations attached to the balance of trade rests with the presumption that a nation is "better off" when it exports more than it imports, which is not necessarily true.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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ABE
Association of Business Executives
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