Question

mis 2281
Attempt following Questions:
b) Define balance of payment.
b) Explain trade restriction policies (any four),
Specialization is beneficial for countries explain that with reference to theories,
Discuss the merits and demerits of free trade.

Answer 1

Answer:

b)The balance of payments (BOP), also known as the balance of international payments, is a statement of all transactions made between entities in one country and the rest of the world over a defined period, such as a quarter or a year. It summarizes all transactions that a country's individuals, companies, and government bodies complete with individuals, companies, and government bodies outside the country.

Explanation:

hope it helps