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4.2 Balance of payments

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Question 25

A UK insurer receives a premium from an Icelandic fishing cooperative to insure the cooperative's boats.

Which component of the UK's current account records this payment?

[1]
A

Secondary income

B

Trade in goods

C

Trade in services

D

Primary income

Markscheme

4.2 Balance of payments Questions

  1. GCSE
  2. /Economics
  3. /4.2 Balance of payments

52 exam-style questions on OCR GCSE Economics 4.2 Balance of payments, covering 4.2.1 Balance of payments on current account, 4.2.2 Balanced account, surplus and deficit, 4.2.3 Calculate deficits and surpluses, 4.2.4 Analyse exports and imports data, 4.2.5 Importance of the balance of payments, and 4.2.6 Causes of surpluses and deficits. Each one has a worked solution and a mark scheme showing where the marks go.

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