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WAEC Commerce 2013 Question 43

Question 43

Foreign Trade

A country is said to achieve a trade surplus when total

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

Answer: A (visible exports exceed total visible imports.)

Explanation

The balance of trade compares visible exports and imports; a surplus means exports are greater.