. Explain the concept of normal residents


Best Answer

Explanation:

  • A normal resident lives in the country concerned, and his economic interest lies in the same country.
  • Normal residents are individuals and institutions.
  •  The resident lives within the territory of the country.
  • The resident depends on the same country for earning, spending, and accumulation.
  • The following are exceptions for normal residents:
  • Foreign tourists, students, visitors, officials, diplomats, etc.

Final Answer:

Normal residents are individuals and institutions that live in the country, depending on economic earnings, all types of transactions in the same country's economy, etc.

Foreign tourists, students, visitors, officials, and diplomats are lived in the country for some time do not consider normal residents.

 

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