Question

Define balance of payment. What are the main items of balance of payment?

Answer 1

The balance of payment is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time such as a quarter or a year.

the main items of balance of payment are :
1. Current account
2. Financial account
3. Capital account

pls mark me as brainlist

Answer 2

Balance of payment abbreviated as B.O.P is the sum total of all the economic transaction at a particular time between each resident of the country and the outside world.

Explanation:

• For a country recording its B.O.P is very critical because it gives an idea about the monetary condition of the country.
• There can be two different conditions, which are a "balance of payment deficit" and a "balance of payment surplus".
• The balance of payment deficit is when the country imports more than exports and the balance of payment surplus is the reverse. B.O.P can three components which are-current account, financial account, and capital account.

Learn more about Balance of payment.

What are the main causes of adverse balance of payment?

https://brainly.in/question/9476480

What is balance of payment ??​

https://brainly.in/question/8141061