Invisible trade refers to trade in?

Assessment: WAEC SSCE - Economics - 2008 (Objective) Subject: Economics

Question 1 Report

Invisible trade refers to trade in?

Answer Details
Invisible trade refers to trade in services that cannot be seen or touched. It includes services such as transportation, tourism, banking, insurance, and consulting, among others. These services are often intangible and cannot be physically transported across borders like tangible goods. Invisible trade is an important part of international trade and can contribute significantly to a country's economy. It is sometimes also referred to as "service trade" or "non-merchandise trade."
Read lesson note on International Trade (JAMB)
Read lesson note on The Theory Of Production (JAMB)
View Answer

Related Questions

1

Which of the following factors does not cause a change in demand
2

The main concern of economists is to
3

Data presented in tables are usually arranged in
4

Production covers all the following except when
5

The gap between demand and supply curves above the equilibrium price is
6

If good P and Q are jointly demanded, an increase in the price of P will likely
7

The theory of diminishing marginal utility states that as more units of a commodity are consumed, the
8

Productive resources can also be called

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning