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WAEC Commerce 1998 Question 77

Question 77

Foreign Trade

Balance of trade is said to be favourable when

  1. A.visible imports exceed visible exports
  2. B.invisible exports exceed visible imports
  3. C.invisible imports exceed visible exports
  4. D.visible exports exceed visible imports
  5. E.visible exports exceed invisible imports
Show the answer and explanation

Answer: D (visible exports exceed visible imports)

Explanation

A favourable balance of trade means visible exports are more than visible imports.