Explain what a balance of trade deficit is

This question simply requires knowledge of a definition but can be quite technical and requires the correct terminology. Specifically this is when the overall value of exports is less than the overall value of imports from and into a country. It is quite easy to mix up words and accicently define a current account deficit and this must be avoided.

MO
Answered by Max O. Economics tutor

1860 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

are technological developments making perfect competition more realistic


What is a Macroeconomic consequence of an increase government spending?


Please show, using a diagram with explanation, the effect on the UK market for t-shirts of a flood in Bangladesh, a leading cotton growing nation.


Define what market failure is and identify an example of market failure, explaining fully why it is a relevant example.


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences