📊 International Economics
Q. Which among the following are differences between Balance of Trade and Balance of Payment?
  • (A) balance of trade is defined as \difference between export and import of goods and services\ while balance of payment includes not only import and export of goods and services but also financial / capital transfer.
  • (B) bot = net earning on exports - net payment made for imports while bop = current account + capital account + or - balancing item ( errors and omissions)
  • (C) bot need not be in balance always while bop needs to be in balance
  • (D) all the above
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✅ Correct Answer: (D) all the above

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