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TERMS OF TRADE: The quantity of one good that's given up to get another. Terms of trade is usually applied to foreign trade, although it's just as applicable to any sort of exchange. Terms of (foreign) trade are said to improve when one country gives up a relatively smaller quantity of their stuff to get a relatively larger quantity of another country's stuff. Terms of trade depend on the relative productivity of two countries and is reflected by exchange rates.
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LEGAL BUSINESS ORGANIZATIONS The alternative ways in which a business or firm can be legally organized. The three primary alternatives are proprietorship, partnership, and corporation. Differences among three are mainly based on: (1) number of owners and (2) the liability of the owners. A proprietorship has a single owner with unlimited liability. A partnerships has two or more ownership with unlimited liability. The owners of a corporation have limited liability.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle, philosopher
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AAT
Association of Accounting Technicians
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