Any asset that people are generally willing to accept in exchange for goods and services
or for payment of debts.
Asset - Anything of value owned by a person or a firm
Fiat money is money that has value only because of government regulation or law.
Test #2 Study Guide
Mercantilism mid-16th century: A nations wealth depends on accumulated treasure.
Gold and silver are the currency of trade. Theory says you should have a trade surplus.
Maximize exports through subsidies. Minimize imports through tari
Despite the fact that many people believe that slavery no longer exists, the International Labour
Organization (ILO) estimated that there are some 5.5 million children in slavery or practices
similar to slavery.
Globalization and Technology