IGCSE Development Studies: Specimen Questions with Answers 57 - 58 of 98

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Passage

Balance of Trade

Question 57 (7 of 7 Based on Passage)

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What do you mean by balance of trade?

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.

Passage

Understand by HDI

Question 58 (1 of 7 Based on Passage)

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Name any four countries with high HDI from the figure.

Explanation

Human Development Index is the index of development of human that could be achieved with no inequality. HDI dos not considers net wealth per capita or the quality of goods produced in a country as it decreases the rank of some advanced countries. Four countries with high HDI according to the given figure are:

  • Norway
  • Switzerland
  • Ireland
  • Germany

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