Michael NaoumProfessor GurfienINBS 250-0412 December 2013Exports and ImportsExports and imports may seem like two simple words in the entire English language. Many people understand exports and imports as simple concepts that are used on a daily basis. However, these terms have more personality than the normal dictionary definition that the average person sticks to. Exports and imports have a heavy impact on consumers and the economy around them. Currently, the world is transforming into a global economy, which means that each country's economy has an impact on another. For example, if the US economy were to collapse, it would have a big effect on the Chinese economy because exports and imports play an important role in this. This can be a difficult concept to understand, but topics such as the effect on the economy, the effect of exchange rates, and the effect of inflation and interest rates are areas that, once explained, will clarify most gray areas for the average individual. internal product is a key concept to understand which invo...