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Shown below is a partial flowchart of the overview of a computerized system for purchases transactions and cash disbursements in the expenditure cycle.
REQUIRED: Label the symbols in the partial flowchart.
Free Trade Agreements
International treaties between countries to reduce or eliminate trade barriers, such as tariffs and quotas, facilitating easier and increased trade among the member countries.
Nation's Exports
The goods and services a country sells to buyers in other countries, contributing to its gross domestic product (GDP) and economic health.
Balance of Payments
A comprehensive record of a country's international transactions over a period, showing the total trade of goods, services, and financial assets between residents and non-residents.
Overall Economic Activity
The total amount of production, consumption, saving, and investment happening in an economy at any given time.
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