IGCSE Development Studies: Specimen Questions with Answers 51 - 52 of 98

Doorsteptutor material for Bank-PO is prepared by world's top subject experts: get questions, notes, tests, video lectures and more- for all subjects of Bank-PO.

Question 51 (1 of 7 Based on Passage)

Short Answer▾

Name the products imported and exported by US

Imports of US from China and Exports of US to China
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

Short Answer▾

Differentiate between BOP and BOT.

Differentiate between BOP and BOT
S. no.	BOT	BOP
1.	Transactions concerning trade of goods only are recorded.	All transactions concerning goods, services and capital transfers are recorded.
2.	Transactions of capital nature are not included in Balance of Trade	Transaction of capital nature is also recorded in balance of payment.
3.	Balance of Trade is a part of current account of balance of payment	BOP is much larger as it has current and capital accounts which include BOP too.
4.	When exports of goods are higher than the imports of goods, BOT is considered as favorable.	When net balance of current account is in plus. BOP is considered as favorable.