Glossary
Absolute Advantage: It is a theory of international trade propounded by Adam Smith. It states that a country produces those goods in which it possesses greater efficiency and exports them for other things it needs.
Absorption Approach: It explains that consumption/investment/governmental expenditure needs to be curtailed in order to help improve the trade balance
Acquired Advantage: It is a sort of trade advantage that arises on account of technology rather than the availability of natural resources.
Acquisition: It is purchase of a company by another company.
Ad Valorem Duty: It is tariff levied on the basis of the value of the item.
American Depository Receipt (ADR): It is a certificate issued by a US bank (depository) in the USA ...
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