Question

Explain the meaning & importance of Current Account. Also discuss its components in detail

Answer 1

Answer:

An account at a bank or building society from which money may be withdrawn without notice, typically an active account catering for frequent deposits and withdrawals.

The current account is an important metric for any country because it measures current trade activities, direct investments, and the success of assets held by residents of the country.

these are its components- trade balance', 'primary income balance' and 'secondary income balance

Explanation:

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