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RAW MATERIALS: The stuff used in the production of tangible products that become the tangible products. Raw materials, also shorted to just materials, are part of the land category of scarce resources. Space is also part of the land resource category. Another term that works as a synonym for materials is natural resources. Perhaps it's obvious that without materials, there would be no tangible products.
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FOREIGN TRADE The exchange of goods and services between the domestic sector of a given nation and its foreign sector (that is, other nations of the world). Also termed international trade when viewed from the perspective of the global economy, this exchange of production is comparable to any exchange, except that buyers and sellers are from different countries. Key insight from the study of foreign trade includes the law of comparative advantage and trade protection policies.
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Trading Some Ideas On EXCHANGE RATESOne potential problem with any far and wide ambling tour of the economy is ambling too far or too wide. Such is the case as we find ourselves in the quaint and courteous Republic of Northwest Queoldiola. While we're here, let's take the opportunity to explore the quaint and courteous economy of the Northwest Queoldiola. Our impromptu economic expedition is faced with an immediate roadblock. I have a pocket filled with good old U. S. dollar bills, but the quaint and courteous people of Northwest Queoldiola don't trade their wares for good old U. S. dollar bills. They prefer the quaint and courteous Northwest Queoldiolan currency, the queold. All we need to do is trade my good old U. S. dollar bills for quaint and courteous queolds.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Think not of yourself as the architect of your career but as the sculptor. Expect to have to do a lot of hard hammering and chiseling and scraping and polishing. " -- B. C. Forbes, founder, Forbes magazine
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OPEC
Organization of Petroleum Exporting Countries
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