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Role of International Trade

Role of International Trade

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Author: Colton Cranston
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This lesson covers the Role of international trade

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Notes on "Role 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.