Economics 9708 · AS & A Level · 6.3

6.3 — practice question

(a)[8]

Explain the significance of an increase in the terms of trade for a country.

(b)[12]

Discuss whether government action is the most likely cause of a current account surplus on the balance of payments.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Definition of terms of trade” …