Question
Balance of trade and Balance of payment
Answer :
Word Count : 163
| Aspect | Balance of Trade (BoT) | Balance of Payments (BoP) |
|---|---|---|
| Definition | The difference between a country’s exports and imports of goods. | A systematic record of all economic transactions between a country and the rest of the world over a specific period. |
| Components | Includes only merchandise (visible) exports and imports. | Includes current account, capital account, and financial account transactions. |
| Balance Consideration | Can be favorable (exports > imports) or unfavorable (imports > exports). | Always __________ ___ ______ _______ ___. ________ _________ __________ _______ ______ ____ ______ ___ _________. ______ ___ _______ _______ _____ _____ _______ ________ ____. _____ ______ _______ ________ ________ ___ ____ _________ ____ __________ _______. ________ ______ __________ ____ ______. _____ ____ ___ __________ ______. __________ ______ _________ _________ ____ ___ __________ ________ ________ _____ _____. ____ _______ _____ _________ ________ ___ ________ ________. ___ _____ ___ ___ ____ ______ _______ _______. _________ ________ ___ ____ ___ _________. _______ _______ ____ ____ ____ __________ ___ ________ __________ _________. __________ ___ ______ _______ ___ _________ ___. _________ ___ ___ ____ __________ ___ _____. _________ ___. IGNOU ACADEMY Your IGNOU journey, made easier.
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