Final answer:
Globalization refers to the increasing interconnectedness of countries, outsource means obtaining goods or services from outside sources, and deficit is when imports exceed exports.
Step-by-step explanation:
Globalization: The term refers to the increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas.
Outsource: It means to obtain goods or services from an outside or foreign supplier, typically to reduce costs.
Deficit: It is the situation where a country imports more goods and services than it exports, resulting in a negative balance of trade.
Free Trade: It refers to the removal of barriers (such as tariffs) on the exchange of goods and services between countries.
Surplus: It means a situation where a country exports more goods and services than it imports, resulting in a positive balance of trade.
Through: In this context, it means economic activity being conducted without major restrictions, such as taxes or regulations.
Economic activity without major restrictions: It encompasses free trade and globalization, where countries engage in trade and economic transactions with minimal barriers.
Learn more about Terms related to international trade and economic activity