Which of following could account for a favourable balance of payment?

Assessment: WAEC SSCE - Commerce - 1990 (Objective) Subject: Commerce

Question 1 Report

Which of following could account for a favourable balance of payment?
Answer Details
A favorable balance of payments occurs when a country's exports are greater than its imports. This means that the country is earning more foreign exchange from exporting goods and services than it is spending on importing them. Therefore, the option that could account for a favorable balance of payment is "higher exports than imports".
Read lesson note on Trade (WAEC)
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