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TERMS OF TRADE: The quantity of one good that's given up to get another. Terms of trade is usually applied to foreign trade, although it's just as applicable to any sort of exchange. Terms of (foreign) trade are said to improve when one country gives up a relatively smaller quantity of their stuff to get a relatively larger quantity of another country's stuff. Terms of trade depend on the relative productivity of two countries and is reflected by exchange rates.

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MICROECONOMIC GOALS

Two conditions of the mixed economy that are most important for microeconomics, including efficiency, and equity, that are generally desired by society and pursued by governments through economic policies.

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APLS

WHITE GULLIBON
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for door-to-door salesmen.
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The average length of a "business lunch" is about 36 minutes.
"Difficulties mastered are opportunities won. "

-- Winston Churchill, Statesman

ALAC
Latin American Free Trade Area
A PEDestrian's Guide
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