ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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capital
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goods
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services
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all
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Detailed explanation-1: -Invisible items refer to those items which cannot be seen, felt, touched or measured. For example, services of shipping, banking, insurance, etc.
Detailed explanation-2: -Such services include freight and passenger transport; banking, other financial services, and insurance; scientific-technical exchange; and international tourism. Income gained by foreign investment is the second largest contributor to invisible trade, and private and government transfer is the smallest.
Detailed explanation-3: -An invisible trade is an international transaction that does not include an exchange of tangible goods. Customer service outsourcing, overseas banking transactions, and the medical tourism industry all are examples of invisible trade.
Detailed explanation-4: -The invisible balance or balance of trade on services is that part of the balance of trade that refers to services and other products that do not result in the transfer of physical objects. Examples include consulting services, shipping services, tourism, and patent license revenues.
Detailed explanation-5: -Invisible Items : Exports and Imports of services is called invisible items. For example Shipping Insurance Banking etc.