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The Titanic sank on its maiden voyage in 1912 because it collided with an iceberg. Four of the ship's 16 watertight compartments could have been flooded without the ship sinking. However the iceberg tore several gashes in the hull, flooding 5 of these compartments.
Services Balance
A measure of the difference between a nation's exports and imports of services, part of the broader current account balance.
Trade Deficit
A scenario in which a country buys more goods and services from abroad than it sells to other countries, resulting in a negative trade balance.
Merchandise
Goods or products that are bought, sold, or traded, often in a retail environment.
Comparative Advantage
The capacity of a person or a team to perform a specific financial task more effectively than other tasks.
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