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IMPORT: Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods purchased from other countries. The United States, for example, buys a lot of the stuff produced within the boundaries of other countries, including bananas, coffee, cars, chocolate, computers, and, well, a lot of other products. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports).
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Lesson 13: The Firm | Unit 4: U.S. Firms
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Page: 19 of 24
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- Let's see what these numbers can tell us about firms in the economy.
- The most striking bit of information is that the overwhelming majority of firms in the economy are proprietorships.
- These proprietorships, however, tend to be small operations. Proprietorships account for only 5% of the total sales.
- While corporations constitute only 20% of the firms in the economy, they account for a whopping 89% of total sales.
- When you encounter a firm, the odds are it's a proprietorship.
- Nothing particular remarkable can be noted about partnerships.
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LIBERAL A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) regulation and control by government over the profit-seeking businesses of the second estate.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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X-M
Net Exports
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