Visible balance is also known as

Assessment: WAEC SSCE - Economics - 2012 (Objective) Subject: Economics

Question 1 Report

Visible balance is also known as

Answer Details
Visible balance is also known as the balance of trade. It refers to the difference between a country's exports and imports of visible goods, such as physical goods like machinery, food, and clothing. If a country's exports of visible goods are higher than its imports, it has a surplus in its balance of trade, while if its imports are higher than its exports, it has a deficit. The balance of trade is one component of the balance of payments, which also includes the balance of services, capital transfers, and financial flows.
Read lesson note on National Income (WAEC)
Read lesson note on International Trade And Balance Of Payments (WAEC)
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