Gce Model Questions Vol1 2017 Commerce Question 2

Practice essay / theory question 2 from the 2017 Gce Model Questions Vol1 Commerce examination. This question covers Trade .

Gce Model Questions Vol1 2017 Commerce Essay / Theory

Topic: Trade

Question 2 GCE_MODEL_QUESTIONS_VOL1 • 2017 • COMMERCE • essay

The table below shows Nigeria's export and import values for two major commodities in 2019 and 2020 (values in million ₦).\n\nYear | Commodity | Export (million ₦) | Import (million ₦)\n-----|------------|-------------------|-------------------\n2019 | Cocoa beans| 120 | 30 \n2019 | Crude oil | 2,500 | 1,200 \n2020 | Cocoa beans| 150 | 45 \n2020 | Crude oil | 2,200 | 1,500

Question Parts

( a )

Calculate the trade balance for each commodity in each year and comment on the trend observed between 2019 and 2020.

( b )

Compute the terms of trade for Nigeria for each year using the ratio (total export value ÷ total import value) × 100. State whether the terms of trade improved or deteriorated between 2019 and 2020.

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About This Question

This is Gce Model Questions Vol1 2017 Commerce Question 2. It is one of the essay questions from the 2017 Gce Model Questions Vol1 Commerce examination.

The question covers Trade .

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