CSEC Economics · May/June 2012 · Paper 2 · Question 3(a)(ii)
Define the term 'Balance of trade'.
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Practise this questionOther parts of this question
- 3(a)(i)Define the term 'Terms of trade'.[2 marks]
- 3(b)State ONE factor that can affect the terms of trade of a country.[1 mark]
- 3(c)(i)Calculate the balance of trade for the years 1990, 1991, 1992 and 1993.[2 marks]
- 3(c)(ii)Analyse the trend in the balance of trade from 1990 to 1993.[4 marks]
- 3(d)Explain TWO economic effects of an adverse balance of trade on a country.[4 marks]
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