GLOSARY UNIT 9

Freight: Goods or produce transported by ship, aircraft, train, lorry or van.

Capital flows: The movement of goods or money

Exports: Goods that are sold outside of the country.

Imports: Goods that a country buy from other country

Balance of trade: The difference between the money of imports and exports.

Balance of payments: Is the record of all monetary transactiones between a country and the rest of the world.

Retail: Type of trade that sells directly to the consumer.

Wholesale Trade in which buyers purchase large quantities of good and sell them to another company.

Trade bloc: Area of countries with a special trade regulations.

Transport network: The connections that facilitate the transport of good and people.

Market: The meeting of buyers and sellers of goods and services.

Infrastructure:  The basic structure we need to make an economy function.

Trade: The buying and selling of goods.

Bartering: The exchange of goods between two or more countries.

Tourism: A sector dedicated to travel for recreational, leasure or business purposes.

Information society: Society where the information technology is envolved in the economy.

Public services: Services that are free for the consumers and they are paid by the state.

Private services: Services sold by a business, separated from the state, it isn´t free.