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Mention any one difference between Balance of Trade and Balance of Payment. - Economics

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प्रश्न

Mention any one difference between Balance of Trade and Balance of Payment.

फरक स्पष्ट करा
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उत्तर

The Balance of Trade is an account of national import and export of goods with regard to the rest of the globe.

The Balance of Payment describes every economic transaction made by a country towards the rest of the world.

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