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IMPORT: Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods purchased from other countries. The United States, for example, buys a lot of the stuff produced within the boundaries of other countries, including bananas, coffee, cars, chocolate, computers, and, well, a lot of other products. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports).
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a set of hubcaps or handcrafted decorations to hang on your walls. Be on the lookout for small children selling products door-to-door.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Time is the scarcest resource, and unless it is managed nothing else can be managed." -- Peter F. Drucker
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HSI
Hang Seng Index (Hong Kong)
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