Economic Awareness - Sectors of Indian Economy
Balance of Trade is recorded under which component of the Balance of Payments?
Balance of Trade is recorded under which component of the Balance of Payments?
medium Q6 of 15
Step-by-Step Solution
Step 1: Recall the structure of Balance of Payments
BOP consists of Current Account (trade in goods & services, income, transfers), Capital Account, Financial Account, etc.Step 2: Locate Balance of Trade
Balance of Trade (goods) is part of the Current Account (merchandise trade balance).Final Answer:
Current Account → Option BQuick Check:
Current Account ✅
Quick Trick: BOT ⊂ Current Account ⊂ BOP.
Common Mistakes:
MISTAKES- Confusing with Capital or Financial Accounts (investments).
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