Learning objective

Understand the elements that make up the current account of the balance of payments, including trade in goods, trade in services, primary income, and secondary income. Be able to calculate deficits and surpluses for the current account and its individual components.

Read the explanation, check the common trap, then practise with flashcards and questions.

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Exam focus

Read the explanation.
Check key terms.
Practise with linked questions.

Cambridge IGCSE EconomicsInternational trade and globalisation

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Quick explanation

Understand the elements that make up the current account of the balance of payments, including trade in goods, trade in services, primary income, and secondary income. Be able to calculate deficits and surpluses for the current account and its individual components

This point belongs to Current account of balance of payments, especially Current account of balance of payments outcomes.
You need to be able to understand the elements that make up the current account of the balance of payments, including trade in goods, trade in services, primary income, and secondary income. Be able to calculate deficits and surpluses for the current account and its individual components.
The key ideas to know are Define, Describe, and Calculate.
Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

DefineDescribeCalculate

Why it matters

This objective helps connect Current account of balance of payments outcomes to exam-style questions, flashcards, and revision notes for Current account of balance of payments.

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