A banking service provided by a country is accounted in the element of the balance of payment. Option 1: Factor income. Option 2: Non-factor Income. Option 3: Transfer Payments. Option 4: Capital Account.

The answer is 'Non-factor Income.'. View full solution:

CUET Economics - A banking service provided by a country is accounted in the element of the balance of payment. | PYQs + Solutions

CUET Economics 2025 3 June Shift 2

Macro

Medium

Factor income.

Non-factor Income.

Transfer Payments.

Capital Account.

✅ Correct Option: 2

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