The Balance Of Payments Flashcards
1
Q
What is the balance of payments
A
A record of all financial transactions made between consumers, businesses and the government in one country with other nations
2
Q
What is the current account
A
The current account of the balance of payment compromises the balance of trade in goods and services plus net investment incomes from overseas assets and net transfers
3
Q
Summarise the trade balance in goods
A
Finished manufactured goods, components, raw materials
&
Energy products, capital technology
