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Lesson 6: Supply | Unit 3: Supply Curve Page: 9 of 19

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A supply schedule can be use to plot a supply curve.
  • The connected plotted points are called a supply curve.
  • A supply curve has a positive slope.
  • Higher prices correspond with larger quantities.
  • The supply curve embodies the law of supply.

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BALANCE OF TRADE

The difference between the value of goods and services exported out of a country and the value of goods and services imported into the country. The balance of trade is the official term for net exports that makes up the balance of payments. The balance of trade can be a "favorable" surplus (exports exceed imports) or an "unfavorable" deficit (imports exceed exports). The official balance of trade is separated into the balance of merchandise trade for tangible goods and the balance of services.

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Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for telephone calls from long-lost relatives.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
"There is no point at which you can say, „Well, I'm successful now. I might as well take a nap.¾"

-- Carrie Fisher, actress, writer

RGDP
Real Gross Domestic Product
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