Tariff: A duty levied on goods transported from one customs area to another either for protective or revenue purposes.

Trade deficit: The amount by which a country's merchandise exports exceed its merchandise imports.

Trade surplus: The amount by which a country's merchandise exports exceed its imports.

Venture capital: Investment in a new, generally possibly risky, enterprise.

This glossary is based principally on-line glossaries developed by the Federal Reserve Bank of San Francisco, the Federal Reserve Bank of Minneapolis, the Virtual Trade Mission, and the Wisconsin Economic Education Council. 123

Prof. Dr. George S. Mentz, JD, MBA, DSS, CWM ™ CAM ™ CPM, ™ MFP ™CFC ™(Licensed Attorney LA EDLA)