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Tariff Barriers Essay

884 words - 4 pages

1. Development
2. Economic development- Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area.
3. Gross national product- Gross National Product (GNP) is the market value of all products and services produced in one year by labour and property supplied by the residents of a country.
4. Gross domestic Product- Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period.
5. Market Value- Market value is the price at which an asset would trade in a competitive auction setting.
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18. Salaries- A salary is a form of remuneration paid periodically by an employer to an employee, the amount and frequency of which may be specified in an employment contract.
19. Rents- the excess of the produce or return yielded by a given piece of cultivated land over the cost of production; the yield from a piece of land or real estate.
20. Interests- Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets.
21. Profits- The positive gain from an investment or business operation after subtracting for all expenses.
22. Households-
23. Business firms- the members of a business organization that owns or operates one or more establishments; "he worked for a brokerage house"
24. Government-
25. Rest of the work-
26. Consumption- Process of using consumer products in order to satisfy desires and real or imagined needs so that the products are used up, transformed, or deteriorated in such a manner as not to be either reusable or recognizable in their original form.
27. Investment- investment is the amount purchased per unit time of goods which are not consumed but are to be used for future production
28. Net Private Domestic Investment-
29. Government Expenditure-
30. Government purchase of goods and services
31. Exports - derived from the conceptual meaning as to ship the goods and services out of the port of a country.
32. Imports- is derived from the conceptual meaning as to bring in the goods and services into the port of a country.
33. Net Exports- The value of a country's total exports minus the value of its total imports. It is used to calculate a country's aggregate expenditures, or GDP, in an open economy.
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