Balance of payments
What Balance of payments means in Economics GCSE, as defined for AQA.
Definitions of Balance of payments
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Reference: AQA
One of the four main macroeconomic objectives, alongside growth, employment and price stability, and distinguished from other objectives such as a fairer distribution of income and environmental protection.
The record of all financial transactions between a country and the rest of the world over a given period.
Topics that use Balance of payments
- Balance of payments (AQA GCSE)
- Economic objectives of the government (AQA GCSE)
Related terms
- Economic growth
- Balance of trade
- Current account
- Current account deficit
- Current account surplus
- Economic growth vs inflation
- Environmental externalities
- Environmental protection
Using Balance of payments in the exam
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