Explain the Three Components of the Balance of Payments Accounts

question 154

Essay

Explain the three components of the balance of payments accounts.What must these three balances sum to?

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Definitions:

Telecommuting

A work arrangement in which employees do not commute to a central place of work but instead work remotely, often from home, using the internet.

Chip-And-Pin Technology

A secure method for making credit and debit card transactions, using a microchip on the card and the cardholder entering a PIN.

LMS

Short for Learning Management System, it's a software application for the administration, documentation, tracking, reporting, and delivery of educational courses or training programs.

BYOD

"Bring Your Own Device," a policy that allows employees to use their personal devices for work purposes.