Give a Basic Definition of the Balance of Payments

question 67

Essay

Give a basic definition of the balance of payments.

---

Definitions:

Synthetic Marble

A man-made material designed to mimic the appearance of natural marble, commonly used in construction and decorative applications.

Statutory Process

A formal procedure or series of steps established by statute (law) that organizations, governments, or individuals must follow.

Common Law

A legal system based on precedent and court rulings, as opposed to statutes or written legislation, forming a major part of the law in many English-speaking countries.