Because the Balance-Of-Payments Is a Record of the Economic Transactions

question 136

True/False

Because the balance-of-payments is a record of the economic transactions of a country over a period of time, it is a flow concept.

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Definitions:

High Need for Affiliation

A personality trait characterized by a strong desire to develop and maintain social relationships and to be part of groups.

Allocate Scarce Resources

The process of distributing limited resources among competing needs or users in order to achieve desired outcomes.

Four-Drive Theory

A motivational theory proposing that human beings are driven by four fundamental needs or drives: the drive to acquire, bond, learn, and defend.

Social Norms

Social norms are the accepted behaviors, values, and conventions that govern the behavior of individuals within a group or society.