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3. Globalisation of trade
A section of Commerce, 7100
Listing 10 of 272 questions
The table in Fig. 1 shows Country X’s exports and imports for 2015. Country X’s main exports are tea, textiles and tourism. Country X’s main imports are insurance, cars and oil. Exports ($ million) Imports ($ million) Visible Invisible Fig. 1 Use Fig. 1 to help you answer the following questions. State two benefits to Country X of international trade. Explain the difference between visible trade and invisible trade, giving one example of each for Country X. Calculate Country X’s Balance of Payments for 2015. Show your working. Should the Government of Country X try to improve its Balance of Payments situation? Give reasons for your answer. Describe one means of electronic communication used in international trade. Rapid transfer of information is always important in international trade. Do you agree? Give reasons for your answer.
7100_s16_qp_22
THEORY
2016
Paper 2, Variant 2
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Questions Discovered
272