WAEC Commerce 2021 Objective — Question 17
Question 17 of 50 from the West African Examinations Council (WAEC) Commerce 2021 Objective paper, with the correct answer and a full explanation.
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A country's balance of trade of -$20 million shows that its
- A. import volume is greater than exportCorrect
- B. import and export volumes are equal
- C. export volume is greater than imports
- D. exports are mainly primary products
Explanation
A negative balance of trade indicates that import receipts exceed export receipts (import volume greater than export).
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