An extensive overview of the term 'balance' and its different contextual applications within the field of economics, such as external balance, internal balance, and invisible balance.
A balancing item in economics refers to an entry made to reconcile differences between two figures that should, in theory, be identical. This term is often used in statistical accounting.
Baltic Free Trade Agreement - A free trade agreement between Estonia, Latvia, and Lithuania established in 1993 and remaining in place until the three countries joined the European Union in 2004.