NECO Economics · Development and the international economy
International trade and balance of payments: NECO Economics Past Questions and Answers
What the WAEC syllabus covers in International trade and balance of payments
Our summary: Why countries trade, terms of trade and trade policy, and how the balance of payments is kept in balance.
- International trade: differences between domestic and international trade, the basis of international trade, absolute and comparative cost advantage
- International trade: terms of trade (definition and measurement), commercial policy (objectives) and instruments – tariffs (types) and direct control
- International trade: trend and structure of West African countries' external trade
- Balance of payments: role of money in international transactions, meaning and components of balance of payments
- Balance of payments: balance of payments disequilibrium, balance of payments adjustments (exchange rate policy, exchange control, monetary and fiscal policies) and financing (the use of reserves and international borrowing)
Syllabus content © The West African Examinations Council (WASSCE (harmonised West African syllabus)). NECO questions are matched to the WAEC syllabus topic.
NECO Economics questions on International trade and balance of payments
- NECO 2009The following are the differences between domestic and international trade EXCEPT
- NECO 2009When the value of a country’s export exceeds her imports, there will be a
- NECO 2009When the demand for foreign exchange exceeds its supply, the value of the domestic currency
- NECO 2007The theory of absolute advantage was propounded by
- NECO 2007If the price Index of export is 140% and import is 200%, what is
- NECO 2007A comprehensive statement of Income and expenditure on international accounts for one financial year is called
- NECO 2007If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is
- NECO 2005The following can be used to improve a country’s balance of payment EXCEPT
- NECO 2004Which of the following will NOT be a barrier to international trade?
- NECO 2004In international trade, when payments of a country are higher than the receipts, then the balance of payment is
- NECO 2004The assumptions of the principles of comparative cost advantage is based on I. Absence of Trade Restrictions II. No transport costs III. Constant technology
- NECO 2003To finance a deficit balance of payment, a country may decide to
- NECO 2003According to the theory of comparative advantages, countries are to specialize based on their
Years with International trade and balance of payments questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2009
- 2007
- 2005
- 2004
- 2003