3 Tutorials that teach Role of International Trade
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Role of International Trade

Role of International Trade

Author: Dan Laub

This lesson covers the Role of international trade

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Introduction to Psychology

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Notes for "Roles of International Trade"

Key Terms

  • Deficit
  • Shortages that result from spending in excess of revenue.
  •  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.