What is Balance of Payment? Class 12 Economics Notes The balance of Payment : In this article, we will study Components of BOP and BOP deficit. Balance Of Payment (BOP) refers to the systematic records of all economic transactions taking place between the residents of one country and resident of foreign countries during a given period of time. The transaction includes the sale of Indian goods and services and purchase of foreign goods. The economic transaction includes the transaction that causes the transfer of value in terms of foreign exchange. “Balance of payment of a country is a systematic record of all business transactions between the resident of a reporting country and a resident of a foreign country during a given period of time, usually a year”. – Prof C P Kindle Berger Economic transactions are related to Visible items (products), invisible items (services), capital transfer (capital receipts and payments) and unilateral transactions. Understand the concep
Takshila Learning has a great faculty and they have their own unique style of teaching and communicating ideas which enables the students to handle any situation with ease and come out with flying colors. By adding this online medium for teaching various courses, they have not only widened our options but have made it