Basic Concepts of International Trade
Exports & Imports: Countries sell goods and services to others (exports) and buy from others (imports).
Balance of Trade (BOT): The difference between a country's exports and imports.
Trade Surplus & Deficit:
Surplus (exports > imports),
Deficit (imports > exports).
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"A deep dive into the dynamics of international trade, exploring how countries exchange goods and services, the economic theories behind trade, and the impact of policies, globalization, and market forces on global commerce."
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