WAEC (WASSCE) Economics · Development and the international economy
International trade and balance of payments: WAEC 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)).
WAEC (WASSCE) Economics questions on International trade and balance of payments
- WAEC 2024Devaluation of currency will help to correct balance of payments deficit if a country's
- WAEC 2024Terms of trade is favourable when the
- WAEC 2024Short-term deficits in the current account of the balance of payments can be financed by balancing with the
- WAEC 2023A government may cause a favourable change in her invisible trade account by
- WAEC 2023Tariffs, quotas and embargoes are examples of
- WAEC 2023Country M enjoys absolute advantage over country N in the production of commodities X and Y, if country M
- WAEC 2022Which of the following measures can lead to an increase in exports?
- WAEC 2022An argument for the use of commercial policy rest on the need to
- WAEC 2022Given that a country's index of export price is 180 and that of import is 200, the terms of trade is
- WAEC 2022Foreign investment and long term securities in the balance of payment accounts are recorded as
- WAEC 2021If a country imposes a barrier on trade, the resultant effect will be …
- WAEC 2021A floating exchange rate means that the exchange rate is fixed by the …
- WAEC 2021If a country's import bill is high, she can encourage exports by …
- WAEC 2021A country may be able to earn more from exports if she …
- WAEC 2021Records of a country's invisible trade are recorded in her … -
- WAEC 2020A country is allowed to import just 50,000 tonnes of rice annually. This describes
- WAEC 2020In order to discourage the importation of manufactured goods, a country should adopt
- WAEC 2020Free trade is one in which
- WAEC 2020Dumping is selling goods in a foreign market at a price
- WAEC 2019Balance of trade involves the exchange of
- WAEC 2019One measure for financing a country's balance of payments deficit is through
- WAEC 2019Devaluation of currency may not correct a balance of payments deficit if the demand for export is
- WAEC 2018Nations engage in international trade because of difference in?
- WAEC 2018one advantage of international trade is that
- WAEC 2018which of the following is not a measure for reducing balance of payments deficits?
- WAEC 2018which of the following measure can be adopted to stabilize the external value of the local currency?
- WAEC 2017Modern international trade is based on the principle of?
- WAEC 2017which of the following terms of trade is recorded in a country's current account section of the balance of payments
- WAEC 2017Infant industries can be described as?
- WAEC 2017Dumping in international occurs when a foreign firm sells
- WAEC 2016Balance of payment surplus implies that receipts for exports are
- WAEC 2016The principle of comparative cost advantage was propounded by
- WAEC 2016The rate at which a country's export is exchanged for her imports is
- WAEC 2016One of the physical measures that can be used to reduce the volume of imports is the
- WAEC 2016Which of the following international organizations is concerned with the stabilization of the balance of payments? the
- WAEC 2015when the demand for foreign exchange exceeds its supply, the value of the domestic currency
- WAEC 2015The export of west A frican countries are mostly composed of
- WAEC 2015In order to correct adverse balance of payments problem, government should?
- WAEC 2015A country has favourable terms of trade when the prices of her
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.
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