CSEC Principles of Business · January 2012 · Paper 2 · Question 7(b)(ii)
Define the term 'Balance of trade'.
The mark scheme is shown once you've answered.
Practise this questionOther parts of this question
- 7(a)State TWO reasons why countries trade with each other.[2 marks]
- 7(b)(i)Define the term 'Specialization'.[2 marks]
- 7(b)(iii)Define the term 'Globalization'.[2 marks]
- 7(c)(i)State TWO features of the Organization of Eastern Caribbean States (OECS).[2 marks]
- 7(c)(ii)State TWO features of the Caribbean Community (CARICOM).[2 marks]
- 7(c)(iii)State TWO features of the World Trade Organization (WTO).[2 marks]
- 7(d)Discuss TWO challenges faced by Caribbean economies in creating a single market and economy.[6 marks]
More practice: the rest of this paper · more Macroeconomic Indicators and International Trade questions · all CSEC Principles of Business past papers