Glossary

barter	The direct trade of goods for other goods and without money.



economies of scale	The aspect of production where per-unit costs decrease as production increases.



foreign exchange	The conversion of the currency of one country for the currency of another.



hard currencies	Currencies easily converted to U.S. dollars or gold.



hedging	Taking an investment position so that changes in prices or exchange rates do not alter the advisability of a business decision.



runs	Panicked withdrawal of money by worried depositors.

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