Essay --

Michael Naoum Professor Gurfien INBS 250-04 12 December 2013 Exports vs. Imports Exports and imports may seem like two simple words throughout the English language. Many individuals understand exports and imports as straightforward concepts that are used on an everyday basis. However, these terms have more personality then the normal dictionary definition that the average person abides by. Exports and imports have a weighty impact on the consumer and the economy around them. Currently, the world is changing into a global economy this means, that every countries economy has an impact on another. For example, if the United States economy were to collapse, this would have a large effect on the Chinese economy due to the fact that, exports and imports play a large role in this. This may be a hard concept to grasp but topics such as, effects on economy, effect of exchange rates and the effect of inflation and interest rates are areas which when explained, will clear up most grey areas for the average individual. To begin, gross domestic product is a key concept to understand which invo...