Measuring International Trade (Leaving Cert Business): Flashcards
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Balance of trade formula
Balance of trade formula
Visible exports - Visible imports
Visible exports and imports
Visible exports and imports
Physical goods that can be seen and touched
Trade surplus definition
Trade surplus definition
When visible exports exceed visible imports
Trade deficit definition
Trade deficit definition
When visible exports are less than visible imports
Invisible exports and imports
Invisible exports and imports
Services that cannot be physically seen
Balance of invisible trade formula
Balance of invisible trade formula
Invisible exports - Invisible imports
Balance of payments definition
Balance of payments definition
Difference between total exports & imports (visible+invisible)
Balance of payments calculation (Method 2)
Balance of payments calculation (Method 2)
Balance of trade + Balance of invisible trade
Import substitution method
Import substitution method
Encouraging consumers to buy Irish products over foreign ones
Examples of invisible trade
Examples of invisible trade
Tourism, financial services, software development