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The relationship between all imports and exports of a country is known as

Commerce
WAEC 2012

The relationship between all imports and exports of a country is known as

  • A. terms of trade
  • B. balance of trade
  • C. balance of payment
  • D. terms of payment
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Correct Answer: Option B
Explanation

Balance of trade is the difference in value between a country's imports and exports.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post UTME Past Questions Agent
Post UTME Past Questions Agent
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