Balance of Payments Is a Much Broader Concept Than Balance

question 49

True/False

Balance of payments is a much broader concept than balance of trade.

---

Definitions:

Agricultural Revolution

A period of technological improvement and increased crop productivity that occurred during the 18th and early 19th centuries.

Overgrazing

the depletion of vegetation due to continuous feeding by an excessive number of grazers.

Agricultural Revolution

A period of significant technological, social, and economic changes in agriculture, leading to increased production and efficiency.

Desert

A barren area of landscape where little precipitation occurs, thus supporting only sparse vegetation and a limited range of animals due to harsh living conditions.