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Essay Details:
Essay text:
Five basic types of economic transactions are these:-
1- Purchase and sales of goods and services against in terms of money.
2- Barter, i.e. the interchange of goods and services against other goods and services.
3- The interchange of financial items against other financial items e.g. sales of securities for money, or the repayment of commercial debts in money.
4- The provisions or acquisition of goods and services without grants.
5- The provision or acquisition of financial item without requital, e.g. in payment of taxes or as a gift.
TYPES OF ITEMS:-
A country has to deal with other country in respect of three items: -
1...
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