WAEC Commerce 2025 Theory — Question 12
Question 12 of 24 from the West African Examinations Council (WAEC) Commerce 2025 Theory paper, with the correct answer and a full explanation.
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4(b) Outline five ways a country can correct its balance of payment deficit.
Model answer
i. By selling government investments abroad. ii. Seeking loans from international organisations. iii. Placing a quota on imports to reduce the quantity of items imported into the economy. iv. Devaluing the local currency to make imports more expensive. v. Pursuing export promotion to improve the quantity of exports.
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