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Why Is Balance of Payments a Much Broader Concept Than

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Why is balance of payments a much broader concept than balance of trade?

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Definitions:

Chain Migration

A term used in migration studies to describe the process by which migrants from a particular town follow others from the same town to a new destination.

Sexual Response Cycle

A model describing the sequential phases of physiological responses to sexual stimulation, typically broken down into excitement, plateau, orgasm, and resolution phases.

Masters And Johnson

Pioneers in the field of human sexuality research, Masters and Johnson explored the physiology of sexual response and the diagnosis and treatment of sexual disorders.

Refractory Period

The period of time following an action potential during which a neuron or muscle cell is incapable or less capable of generating another action potential.

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