Balance of trade: That part of a nation's balance of payments dealing with imports and exports -- that is, trade in goods and services -- over a given period. If exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable."

Bear market: A market in which, in a time of falling prices, shareholders may rush to sell their stock shares, adding to the downward momentum.

Bond: A certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturing date.

Budget deficit: The amount each year by which government spending is greater than government income.