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Current account of balance of payments
Understand the elements that make up the current account of the balance of payments, including trade in goods, trade in services, primary income, and secondary income. Be able to calculate deficits and surpluses for the current account and its individual components.
4
Objectives
40
Flashcards
28
Questions
90 min
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CambridgeIGCSEEconomicsInternational trade and globalisation
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Current account of balance of payments outcomes4 objectives
- Understand the elements that make up the current account of the balance of payments, including trade in goods, trade in services, primary income, and secondary income. Be able to calculate deficits and surpluses for the current account and its individual components.
- Identify the reasons that lead to current account deficits and surpluses.
- Examine the effects of current account deficits and surpluses on key economic indicators such as GDP, employment, inflation, and exchange rates.
- Explore various policies that can be implemented to achieve stability in the balance of payments and evaluate their potential effectiveness.
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