DMPQ: Define following term ( Eco) a) Current account b) Capital account c) Balance of payment d) Trade balance

Current account:       Current account refers to the account maintained by every government of the world in which every kind of transaction is shown, this account is maintained by the central banking body. Current transactions of an economy in foreign currency all over the world- export, import, interest payments, foreign investments in share.

 

Capital account:          Capital account of Balance of payment records all the transactions, between the residents of country and rest of the world, which cause a change in the assets or liabilities of the residents of the country or its government

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