The Record of a Country's Transactions in Goods, Services, and Assets

question 62

Multiple Choice

The record of a country's transactions in goods, services, and assets with the rest of the world is its

• A) balance of payments.
• B) balance of trade.
• C) capital account.
• D) current account.

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Definitions:

Value Engineering (VE)

A systematic method to improve the "value" of goods or products and services by using an examination of function. Value, in this context, can be defined as the ratio of function to cost.

Value Analysis (VA)

is a method to improve product value by examining its function, design, and the cost of components, aiming for cost reduction while maintaining quality.

FinTech Firms

Companies that innovate and provide technological solutions for the finance sector, often disrupting traditional banking services and methods.

Process Technology Innovation

The introduction of new or significantly improved technologies or methods in the production process to enhance efficiency, quality, or environmental performance.