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TRADE SURPLUS: Formally termed a balance of trade surplus, a condition in which a nation's exports are greater than imports. In other words, a country is buying less stuff from foreigners than foreigners are buying from domestic producers. A trade surplus is usually thought to be a good thing for a country. However, every country in the world cannot run a trade surplus at the same time. Excessive trade surpluses can also lead to invasion by sizable foreign armies.

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FACTORS OF PRODUCTION

Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Factors of production are also termed resources or scarce resources.

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APLS

BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at an auction hoping to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for deranged pelicans.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

AACCLA
Association of American Chambers of Commerce in Latin America
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