3 Tutorials that teach International Trade
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International Trade

International Trade

Author: Colton Cranston

This lesson covers international trade.

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Introduction to Psychology

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Notes on "International Trade"

Key Terms

Balance of Payments

A record of all monetary transactions that flow across a country’s border; two major components are the current account and the capital account.

Current Account

Represents the sum of all recorded transactions including traded goods, services, income, and net transfer payments.

Capital Account

Captures investment and financing flows; inflows have an appreciating impact on a given currency; outflows have the opposite, or depreciating, impact.

Trade Surplus/Deficit

Trade surplus occurs when exports exceed imports (X – M > 0) and a trade deficit occurs when imports exceed exports (X – M < 0).