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WAEC Economics 2006 Question 46

Question 46

Balance of Payments and Exchange Rates

Which of the following is an invisible item?

  1. A.Banking services
  2. B.Petroleum products
  3. C.Processed rice
  4. D.Processed milk.
Show the answer and explanation

Answer: A (Banking services)

Explanation

Invisible items are services such as banking, insurance and shipping; the others are physical goods.