Balance of Payment is a more wider term than Balance of Trade. Explain.
Answers
Answered by
3
Answer:
The balance of trade is a part of balance of payment. Balance of trade simply deals with the export and import of goods. Balance of trade doesn't include any services (not even the import and export of services; we have a different name for that). Balance of payment, on the other hand, is a much broader concept.
Explanation:
Similar questions