Waec Model Questions Vol1 2023 Commerce Question 2

Practice essay / theory question 2 from the 2023 Waec Model Questions Vol1 Commerce examination. This question covers Trade balance, Factors affecting trade deficit, Exchange rate effects, Elasticity of import demand, Export promotion measures .

Waec Model Questions Vol1 2023 Commerce Essay / Theory
Topics: Trade balance Factors affecting trade deficit Exchange rate effects Elasticity of import demand Export promotion measures
Question 2 WAEC_MODEL_QUESTIONS_VOL1 • 2023 • COMMERCE • essay

Nigeria engages in both intra‑regional and international trade. The table below shows the value of its trade for the most recent fiscal year.

Question Parts

( a )
Calculate Nigeria's trade balance for the year and interpret the result.
( b )
Explain two macro‑economic factors that can cause a widening trade deficit.
( c )
The Central Bank is considering a policy to depreciate the naira by 10 %. Discuss, with reference to the price elasticity of demand for imports (‑0.6), how this depreciation is expected to affect the trade balance.
( d )
Suggest one non‑tariff measure that could be used to promote export growth and justify its likely effectiveness.

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About This Question

This is Waec Model Questions Vol1 2023 Commerce Question 2. It is one of the essay questions from the 2023 Waec Model Questions Vol1 Commerce examination.

The question covers Trade balance, Factors affecting trade deficit, Exchange rate effects, Elasticity of import demand, Export promotion measures .

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