a) Define the term 'international trade'. (2 marks)
b) Explain FOUR reasons why countries engage in international trade. (8 marks)
c) Distinguish between 'balance of trade' and 'balance of payments'. (5 marks)

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a) Define the term 'international trade'. (2 marks) b) Explain FOUR reasons why countries engage in international trade. (8 marks) c) Distinguish between 'balance of trade' and 'balance of payments'. (5 marks)

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