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Question
Define Balance of payments
Solution
According to International Monetary Fund, “The balance of payments for given period is a systematic records of all economic transactions taken place during the period between residents of the reporting countries.”
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RELATED QUESTIONS
Statements incorrect in relation to Balance of Trade:
- It is also referred to as international trade balance.
- Trade surplus arises when export value is greater than import value.
- Trade deficit takes place when import value is greater than export value
- Balance of trade includes value of imports and exports of visible goods only
Systematic record of all international economic transactions of a country during a given period usually a year –
Balance of payments surplus indicates ______.
What do you mean by Balance of payments?
Balance of Trade and Balance of Payment are two different concepts.
Distinguish between the following:
Internal trade and International trade.
Distinguish between the following:
Balance of payments and Balance of trade
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
Distinguish between the following:
Balance of payments and Balance of trade.
