Question : Which of the following is an example of a non-factor service in the current account?
Option 1: international transportation services
Option 2: financial services
Option 3: Tourism and travel
Option 4: Royalties and licensing fees
Answer (1)
11th Jan, 2024
Correct Answer: financial services
Solution : The correct answer is b) Financial services
Financial services are an example of a non-factor service in the current account. Non-factor services refer to services that do not involve the direct use of factors of production, such as labor or capital. They are typically categorized as part of the services component in the current account of the Balance of Payments (BoP).
Comments (0)
Related Questions
Trending Articles/News
