passwella.
Menu

WAEC Commerce 2015 Question 4

Question 4

Foreign Trade

The insurance services rendered to a foreign shipping company are treated as

  1. A.invisible export.
  2. B.invisible import.
  3. C.visible export.
  4. D.balance of trade.
Show the answer and explanation

Answer: A (invisible export.)

Explanation

Services sold to foreigners earn foreign exchange, so they are invisible exports.