Explain Balance on Capital Account

question 10

Essay

Explain balance on capital account.

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Definitions:

Other Goods

Refers to products or commodities that are considered as alternatives or options aside from the primary goods under consideration.

Competitive Rate

A pricing strategy often used by businesses to match or beat the prices offered by competitors in the market.

Short Run

A period in economics where at least one factor of production is fixed and cannot be altered.