Match each term with it's description.

Question

Group of answer choices
Balance of Trade

Trade Surplus

Trade Deficit

Answer 1

1. Balance of Trade - The difference between a country's total exports and total imports of goods and services in a given period of time.
2. Trade Surplus - When a country exports more goods and services than it imports, resulting in a positive balance of trade.
3. Trade Deficit - When a country imports more goods and services than it exports, resulting in a negative balance of trade.