Payments
Chapter 7: Chapter 7 · ECONOMICS · EN medium
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Payments Balance of Trade and Balance of Payments are two different concepts in the subject of international trade. . . Balance of Trade (BOT) Balance of Trade (BOT) refers to the total value of a country’s exports of commodities and total value of imports of commodities. Only export and import of commodities are included in the statement of Balance of Trade of a country. Movements of goods (export and imports of commodities) are also known as ‘visible trade’, because the movement of commodities between countries can be seen by eyes and felt by hands and can be verified physically by customs authorities of a country.
📖 Class 12 Economics English Medium 2024 Edition www.tntextbooks.in · Page 141
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Payments Balance of Trade and Balance of Payments are two different concepts in the subject of international trade. . . Balance of Trade (BOT) Balance of Trade (BOT) refers to the total value of a country’s exports of commodities and total value of imports of commodities.
Only export and import of commodities are included in the statement of Balance of Trade of a country. Movements of goods (export and imports of commodities) are also known as ‘visible trade’, because the movement of commodities between countries can be seen by eyes and felt by hands and can be verified physically by customs authorities of a country.
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