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AFRICAN DEVELOPMENT BANK: A regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia.
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Lesson 11: Circular Flow | Unit 4: Foreign
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Page: 17 of 22
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Topic:
Exports and Imports
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- Exports are goods and services produced by the domestic economy and purchased by the foreign sector.
- Imports are goods and services produced by the foreign sector and purchased by the domestic economy.
- Exports are the green flow coming from the foreign sector and joining GDP before reaching the business sector.
- Imports are the green flow leaving the consumption, investment, government purchases stream and going to the foreign sector.
- Note that the physical flow of production (exports and imports) moves in opposite direction as the green payment flows.
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VALUE IN EXCHANGE The ability to trade an item or asset, especially money, for other goods and services that can then be used to satisfy wants and needs. Value in exchange means that value (that is, satisfaction) is obtained indirectly through the acquisition of something else. For an item to have value in exchange it need NOT have value in use, value obtained directly from the consumption of a good or service.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for crowded shopping malls.
Your Complete Scope
This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. " -- Albert Einstein, physicist
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AOQ
Average Outgoing Quality
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