IGCSE Development Studies: Specimen Questions with Answers 54 - 55 of 98
Passage
Question 54 (4 of 7 Based on Passage)
Explanation
Imports of US from China | Exports of US to China |
Telephone for cellular networks or for other wireless networks | Aero planes and other aircrafts |
Automatic data processing machine | Soya beans |
Tricycle, scooters and similar wheeled toys and other toys | Vehicles with only spark ignition, internal combustion reciprocating piston engine |
Communication apparatus | Electronics, integrated circuits, processors, and controllers |
Question 55 (5 of 7 Based on Passage)
Explanation
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period. It is one of the key indicators of economy. It deals with the exports and imports of visible items only and considers only merchandise exports and imports only.
Importance of Balance of Trade Are
- It shows how a country competes in a global market place
- It determines the health of economy and its relationship with the rest of the world.
- It includes physical goods and intangible services.
- Important piece of understanding the global puzzle of international trade.
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