Examlex
Externalities are side effects or by-products of actions that are not included in standard cost accounting systems.
Free Traders
Individuals or entities advocating for minimal restrictions on international trade, believing it enhances economic efficiency and benefits all countries involved.
Merchandise Trade Imbalance
A situation where the import and export of goods in a country do not balance, resulting in either a trade surplus or deficit.
Overall Trade Imbalance
A situation where the value of a country's imports significantly surpasses or falls short of its exports, reflecting a disparity in trade flow.
World War II
A global conflict that lasted from 1939 to 1945, involving most of the world's nations and resulting in significant geopolitical changes and the establishment of the United Nations.
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