JAMB Economics 1978 Question 38

Question 38

International Trade

Less developed countries obtain foreign reserves mainly from the export of

  1. A.manufactured goods
  2. B.processed and semi-processed commodities
  3. C.invisible items
  4. D.primary products
  5. E.all of the above.
Show the answer and explanation

Answer: D (primary products)

Explanation

Developing countries earn most of their foreign exchange from primary products such as crops and minerals.