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BALANCE OF TRADE DEFICIT: 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 an unfavorable balance of trade. 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 A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at an auction seeking to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for slightly overweight pizza delivery guys.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"All things are difficult before they are easy." -- Thomas Fuller, Physician
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AOQ
Average Outgoing Quality
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