Foreign Trade: The exchange of commodities from one country to the other. The only difference is the people participating in the exchange live in 2 different countries.
Fiscal deficit: This is the difference between the governments' expenditure and its' revenues.This is usually communicated as as a % of its' GDP (gross domestic product)
Revenue deficit: This happens when the govt's actual net receipts are lower than the projected receipts. DON'T confuse this with actual LOSS of revenue.
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