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International Trade: Making Sense of the Trade Deficit (Page One Economics)

As Adam Smith said, everyone lives by exchanging. They exchange—buy and sell—to make themselves better off. Does the same principle apply to international trade? Do nations benefit from importing and exporting? What role does a trade deficit have in the economy? The November 2016 issue of Page One Economics explains the basics of international trade and its importance to the economy.

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Audience:   High School, College, Consumers, Middle School
Language:   English
Subjects:   AP Economics, Economics, Current Events, Civics/Government
Resource Types:   Publications, Lessons
Concepts:   Trade/International Trade, Deficit, Opportunity Cost