Explain economice transaction
Answers
Explanation:
Economic Transaction: transfer of goods, the rendering of services (including saving and risk-taking), and transfers of money and other investments between residents of one country and residents of another country.
Answer:
An economic transaction occurs when something of economic value is provided by one party to another. Transactions that are considered to have economic value comprise those in goods, services, income and financial assets and liabilities. The transactions recorded in a balance of payments statement stem from dealings between two parties, one usually being a resident and the other a non-resident. The types of transactions included in the balance of payments are exchanges, one-sided transactions and imputed transactions.
Explanation: