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A child looks at a writing instrument that has a sharp tip, a graphite core, and an eraser on the end. She calls it a "pencil." What process has occurred?
Import Quotas
Restrictions set by a country on the quantity of goods that can be imported within a certain time frame to protect domestic industries.
Domestic Employment
The total number of people employed within a country's borders, reflecting the health of the economy and labor market.
Services Abroad
The provision of services by a country or business to clients or customers located in other countries.
Goods Trade Surplus
An economic situation where a country exports more goods than it imports, leading to a positive trade balance.
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