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BY-PRODUCT: One of two goods that are produced jointly using the same resource--that is, the production of one good automatically triggers the production of the other. Also termed joint products or complements-in-production, the phrase by-product is often used when one of the products is unwanted or of secondary importance. For example, sawdust is generally considered a by-product from producing lumber from trees.

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EXPORTS

Goods and services produced by the domestic economy and purchased by the foreign sector. Exports are goods sold to other countries. Exports are the counter to imports--goods produced by the foreign sector and purchased by domestic economy. Exports, together with imports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Exports and imports are frequently combined into a single term, net exports (exports minus imports).

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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for the happiest person in the room.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
"Wise men speak because they have something to say; Fools because they have to say something. "

-- Plato, philosopher

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