World Trade Organization: Principal, Objectives and Functions
The World Trade Organization (WTO) is an international organization dealing with the global rules of trade between nations. Its main function is to ensure that…
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Bretton Woods System
The Bretton Woods system is the landmark for monetary and exchange rate management established in 1944. The Bretton Woods system was developed at the United…
Measures to Correct Disequilibrium in Balance of Payment
Balance of payment is the record value of all the transaction between a countries residence and all the rest of the world. It reflects a…
Causes of Disequilibrium in the Balance of Payments
Balance of payments is a record of economic transactions between the residents of one country and the rest of the world during the course of…
Major Components of Balance of Payments
Balance of Payments: According to Kindle Berger – “Balance of Payment is a systematic record of’ all economic transactions which take place among the individuals…
Difference between Balance of Payment and Balance of Trade
The balance of trade is the difference between the values of exports and imports of visible goods of a country during a given period of…
Importance of Balance of Payment (BOP)
Balance of Payment is a systematic record of all economic transactions which take place among the individuals of a country and the rest of the…
Different forms of Payment for International Trade
International trade refers to the trade between two or more countries, where both of the countries exchange their capital, goods, and services. It is the…
Balance of Payment
A statement that summarizes an economy’s transactions with the rest of the world for a specified time period is called balance of payment. The balance…
Distinguish between Currency Devaluation and Currency Depreciation
Definition of Devaluation: Devaluation is when a country makes a conscious decision to lower its exchange rate in a fixed or semi-fixed exchange rate. Therefore,…
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