This video teaches the concepts of Balance of Trade and Balance of Payments. The balance of trade is calculated by subtracting imports from exports. The balance of payments includes payments related to exports and imports of goods; payments related to the international flow of services, gifts or transfers; and payments for physical and financial assets such as rental payments or interest payments. The website contains an interactive quiz and links for related lesson plans.

Concepts

comparative advantage, exchange rate, trade

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Additional Tags

balance of payments, balance of trade, benefit, ohio e.s.20, foreign exhange market

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Classroom Considerations

• Knovation Readability Score: 4 (1 low difficulty, 5 high difficulty)
• The intended use for this resource is Instructional