CSEC Principles of Business · January 2016 · Paper 2 · Question 7(a)(i)
Section III: Answer EITHER Question 6 OR Question 7.
Define the term 'international trade'.
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Practise this questionOther parts of this question
- 7(a)(ii)Outline THREE reasons why countries trade with each other.[6 marks]
- 7(b)(i)Differentiate between 'balance of trade' and 'balance of payments'.[4 marks]
- 7(b)(ii)List TWO components of a balance of payments account.[2 marks]
- 7(c)Explain TWO ways in which governments can address a balance of payments deficit.[6 marks]
More practice: the rest of this paper · more Macroeconomic Indicators and International Trade questions · all CSEC Principles of Business past papers