MCQs on Balance of Payments (BoPs) with answers. Class 12 economics topic Balance of Payments MCQs with Answers and bullet points help you comprehend the concepts provided in Class 12 economics chapter-wise MCQs. We will help you in gaining complete knowledge of the concepts. MCQ Questions for Class 12 Economics with Answers. This MCQ solution helps you gain an extra understanding of various aspects of the Balance of Payments provided in the topic of the Class 12 economics textbook. Resource material that top teachers and students recommend. We advise you to take advantage of this class 12 economics MCQ with answers.
Class 12 Economics Multiple Choice Questions online test of Getting to Know details about this chapter. The new sets of Multiple choice questions appear in each new test students select. If you have any doubts, please visit the Discussion Forum to ask your doubts.
Important Multiple Choice Questions (MCQs) of Balance of Payments
We have provided Balance of Payments Class 12 Eco MCQs Questions with Answers to help students understand the concept very well. Practice MCQ Questions for Class 12 Eco with Answers on a daily basis and score well in exams. Refer to the Eco Class 12 MCQs Questions with Answers here along with a detailed explanation.
Also Read: Class 12 chapter-wise MCQ
Balance of Payments class 12 bullet points for mcq online test
- The balance of payments (BoP) is a systematic record of all economic transactions between the residents of a country and the rest of the world during a given period of time.
- BoP is divided into two main accounts: the current account and the capital account. The current account includes transactions related to trade in goods and services, while the capital account includes financial transactions such as foreign direct investment, portfolio investment, and loans.
- A country’s BoP can be in surplus or deficit. A BoP surplus occurs when the value of a country’s exports exceeds the value of its imports, while a BoP deficit occurs when the value of imports exceeds the value of exports.
- The BoP has implications for a country’s economy, including its exchange rate, foreign reserves, and ability to finance its current account deficit or repay its external debt.
- Policies that affect a country’s BoP include exchange rate policies, trade policies, and capital account policies. Governments can also use monetary and fiscal policies to influence the BoP.
Below we have embedded class 12 Economics multiple choice questions—question papers prepared by the most experienced teachers. If you have any doubts about solving the below questions then visit our Youtube channel Academic Excellence in School and watch the free video tutorials.
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Please read the instructions carefully before the test.
1. All the students must take note of the time because the time limit is 45 minutes.
2. Attempt all the Questions.
3. Each MCQ carries 1 mark and each fill-up carries 2 marks.