Definitions
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Transcript of Definitions
Economy
Economy is the wealth and resources of a country or region, especially in
terms of the production and consumption of goods and services.
Entrepreneur
An Entrepreneur is a person who starts a business and assumes full
responsibility for it
NAFTA
The North American Free Trade Agreement, also called NAFTA,
eliminates trade taxes and numerous other things.
Imports
Imports are goods or services that come into a country
Exports
Exports are goods or services that exit a country
Domestic Trade
Domestic trade is trade that happens within the borders of a
country
International Trade
International trade is trade that happens with more than one
country
Tourism
Tourism is travel for recreational, leisure or business purposes.
Trade Surplus
Trade surplus occurs when a country exports more than it
imports
Trade Deficit
Trade deficit occurs when a country imports more than it
exports