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What Is a Nation's Balance of Trade? What Is the Difference

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What is a nation's balance of trade? What is the difference between a trade surplus and a trade deficit?


Definitions:

Referent Power

A form of influence based on the leader’s personal relationships with others, where followers identify with, like, or respect the leader.

Legitimate Power

A form of authority where power is used based on a person's organizational role or position rather than personal qualities or abilities.

Organizational Politics

The activities and behaviors employees engage in to gain power and achieve their goals within a workplace, often involving influence and networking.

Political Behavior

involves actions not officially sanctioned by an organization that are aimed at influencing the distribution of advantages and disadvantages within it.

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