Economics B A-Level
Balance of payments
What Balance of payments means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Balance of payments
Check what you remember
Read the wording for your board, then hide it and explain Balance of payments in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Affected by MNCs, as initial FDI improves the financial account while exports improve the current account, though profit repatriation worsens it.
Topics that use Balance of payments
- The impact of multinational corporations (MNCs) (Pearson Edexcel A-Level)
Related terms
- Business competition and supply chains
- Environmental externalities and sustainability
- Foreign direct investment
- Labour markets and exploitation
Using Balance of payments in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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