front 1 Globalisation | back 1 the process by which the world is becoming increasingly interconnected through trade and other links |
front 2 Quota | back 2 a limit placed on imports and exports |
front 3 Embargo | back 3 a ban placed on imports and exports |
front 4 Exchange control | back 4 a limit on the amount of foreign currency that can be obtained |
front 5 Infant industries | back 5 new industries with relatively low output and high cost |
front 6 Declining industries | back 6 old industries which are going out of business |
front 7 Strategic industries | back 7 industries that are considered important for the survival or development of the country |
front 8 Foreign exchange rate | back 8 the price of one currency in terms of another currency or currencies |
front 9 Fixed exchange rate | back 9 an exchange rate whose value is set at a particular value in terms of another currency or currencies |
front 10 Devaluation | back 10 a fall in the value of a fixed exchange rate |
front 11 Revaluation | back 11 a rise in the value of a fixed exchange rate |
front 12 Floating exchange rate | back 12 an exchange rate which can change frequently as it determined by market forces |
front 13 Appreciation | back 13 a rise in the value of a floating exchange rate |
front 14 Depreciation | back 14 a fall in the value of a floating exchange rate |
front 15 Trade in goods | back 15 the value of exported goods and imported goods |
front 16 Trade in goods deficit | back 16 expenditure on imported goods exceeding revenue from exported goods |
front 17 Trade in goods surplus | back 17 revenue from exported goods exceeding expenditure on imported goods |
front 18 Trade in services | back 18 the value of exported services and imported services |
front 19 Trade in services deficit | back 19 expenditure on imported services exceeding revenue from exported services |
front 20 Trade in goods surplus | back 20 revenue from exported services exceeding expenditure on imported services |
front 21 Primary income | back 21 income earned by people working in different countries and investment income which comes into and goes out of the country |
front 22 Secondary income | back 22 transfers between residents and non-residents of money, goods or services, not in return for anything else |
front 23 Current account balance | back 23 a record of the income received and the expenditure made by a country in its dealings with other countries |