SELECT * FROM question_mgmt as q WHERE id=5442 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=59 AND chapterId=607 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th macro-economics Open Economy Macroeconomics differentiate between balance of trade and current

Question:

Differentiate between balance of trade and current account balance.

Answer:

Point of Difference Balance of Trade Current Account Balance
Definition It is the difference between the values of exports and imports of goods of a country. It is the difference between the values of exports and imports of goods, services and unilateral transfers of a country.
Components

1. Export of goods
2. Import of goods

 Export and import of goods, export and import of services, unilateral transfers.
Nature of Transaction It records transactions related to visible items (i.e. goods) only. It records the transactions related to visible items (goods) as well as invisible items (services) and unilateral transfers.

 


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