Instructions: Please Define the Following Key Terms

question 62

Short Answer

Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-caliph

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Definitions:

Balance of Goods

The difference in value between a country's imports and exports of physical products.

Tangible Products

Physical items that can be seen, touched, and used, as opposed to services or digital products.

Intangible Products

Non-physical goods or services such as intellectual property, consulting, and insurance, that cannot be seen, touched, or physically measured.

Merchandise Trade Balance

The difference in value between a country's imports and exports of goods, excluding services.