Question

what is meant by visible and invisible items in the balance of payments account?give two examples of invisible items.

Answer 1

Visible items :-
visible items in the bop refers to all types of physical goods, that are exported and imported in our country.
Invisible items :-
as against the visible items in the bop refers to all types of non physical goods that are trad d by the country.For example banking and insurance services,etc.

Answer 2

The visible and invisible items in the balance of payments account are the items which are traded with other countries. Goods like commodities, equipment, textiles and more  that are the visible items. Invisible goods are which cannot be seen like the services provided by insurance, banking and more

Explanation:

• The visible goods  that are tangible and are used for imports and exports with other countries like cloth, wheat, pulses, machines and more.  These goods can be seen by the eyes and referred to as visible trading.
• Invisible goods which form the balance of payments are items which cannot be seen by the eyes or felt. These are intangible services from the shipping sectors, banking sector, insurance sector and more.
• Every economic transaction happening in the country and  with other countries within a specific period of time is maintained in the balance of payments.

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

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