EconoTerms I

Import
A good or service (such as labor) purchased from another country.

Income
An amount of money obtained over a period of time in exchange for labor, services, or products; also includes money made on investments in the financial markets.

Interest
A fee for borrowing money. If you borrow money from a bank, you will pay interest; if you lend your money to a bank (deposit it), the bank will pay you interest. See the EconoMath section for more details.

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