Balance of trade
Which transactions find out the balance of trade? When the balance of trade is in surplus?
Expert
Exports of goods and imports of goods find out BOT. Whenever the value of exports of goods is bigger than the value of imports of goods.
THE AREA BETWEEN THE LORENZ CURVE OF A COUNTRY AND THE DIAGONAL OF PERFECT EQUALITY REPRESENT
Balance of payment: It is a systematic record of each and every economic transaction of a country with the rest of world in an accounting year.
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