When a country's total visible and invisible exports are more than its visible and invisible imports, it has?

Assessment: WAEC SSCE - Commerce - 2000 (Objective) Subject: Commerce

Question 1 Report

When a country's total visible and invisible exports are more than its visible and invisible imports, it has?
Answer Details
When a country's total visible and invisible exports are more than its total visible and invisible imports, it has a favourable balance of trade. This means that the country is exporting more goods and services than it is importing, resulting in a surplus. The balance of trade is an important economic indicator that shows how much a country is producing and consuming relative to its trading partners. A favourable balance of trade can lead to increased economic growth and employment opportunities in the exporting industries, while an unfavourable balance of trade, where a country imports more than it exports, can lead to a trade deficit and potentially lower economic growth. The balance of payments is a broader measure that includes not only visible and invisible trade but also other types of financial transactions between a country and its trading partners, such as foreign investment and loans.

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