A country is said to achieve a trade surplus when total

Assessment: WAEC SSCE - Commerce - 2013 (Objective) Subject: Commerce

Question 1 Report

A country is said to achieve a trade surplus when total

Answer Details
A country is said to achieve a trade surplus when total visible exports exceed total visible imports. This means that the country is exporting more goods than it is importing, resulting in a net inflow of foreign currency. This can be a positive sign for the economy, as it indicates that there is a demand for the country's products and can lead to increased production, employment and income. A trade surplus can also help a country build up its foreign reserves and increase its purchasing power in the global market.

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