Trade

International Trade: The exchange of goods and services across international borders. It’s like having an international potluck dinner where everyone brings their best dish to share with others.

Trade Balance: The difference between what a country imports and what it exports. If you brought 5 dishes to the potluck but took home 7 different ones, you'd have a negative trade balance!

Protectionism: Government actions and policies that restrict or restrain international trade often done with the intent of protecting local businesses and jobs from foreign competition. It’s like bringing your dish to the potluck but not letting anyone else try it to ensure there’s enough for your own family.