GEOGRAPHY? WHAT'S THAT? UNIT 9.

• BALANCE OF PAYMENT: a record of all monetary transactions between a country and the rest of the world

• BALANCE OF TRADE: the difference between the monetary value of the exports and the imports of a country.
• BARTERING: a system used before the invention of money, involving the exchange of certain goods for others.
• CAPITAL FLOW: the movement of money.
• EXPORTS: goods or services that are sold outside the country where they are produced.
• FREIHT: goods or produce transported by ship, aircraft, train, lorry or van.
• IMPORTS: goods or services that are brought into a country from abroad for sale.
• INFORMATION SOCIETY: a society in which the creation, distribution, and manipulation of information has become the most significant economic and cultural activity.
• INFRASTRUCTURE: the basic physical and organizational structures needed for an economy to function.
• MARKET: the meeting of buyers and sellers of goods and services.
• PRIVATE SERVICES: services that are offered and managed by private companies.
• PUBLIC SERVICES: services that cover the basic needs of the population and contribute to its well-being.
• RETAIL: a type of trade in which businesses sell small quantities of goods directly to consumers.
• TOURISM: a sector dedicated to travel for recreational, leisure or business purposes.
• TRADE: the buying and selling of goods to meet the needs of the population.
• TRADE BLOC: a group of countries that join together to form an area with special trade regulations.
• TRANSPORT NETWORK: the connection of road, railway lines, ports or airports that facilitate the transport of goods and/or people.
• WHOLESALE: trade in which buyers purchase large quantities of goods and sell them, in smaller quantities, to other companies.