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Autarky

The situation when a country doesn't participate or engage itself in international trade, preferring, instead, to rely on its own...

Absorption Approach

A method of determining the balance of trade (BOT) of a given country which holds that the balance of trade...

Absorption

Total demand for final goods and services by all economic sectors of a given country (consumers or the household sector,...

Open Account

A sale transaction where the goods are shipped and delivered, while payment is deferred for a future date, which is...

Abundant Factor

The factor in a country's endowment (primary factors of production) of which it is has the highest reservoir relative to...