Explain balance of payment
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Yogita Ingle 6 years, 11 months ago
Balance of Payments The Balance of Payment (BoP) of a country is a systematic record of all economic transactions between its residents and residents of foreign countries.
Classification of Economic Transactions in BoP
(i) Visible items (physical goods)
(ii) Invisible items (services)
(iii) Capital transfers (capital receipts and payments)
(iv) Uni-lateral transactions
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