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International Trade · CAPE Economics Unit 2

54 past-paper questions on International Trade, part of Growth, Sustainable Development and Global Relations, from every CAPE Economics Unit 2 paper on Quelpr.

Practise International Trade
  1. 12(a)(i)2 marks· CAPE Economics Unit 2 · 2006 · Paper 1Distinguish between 'exports' and 'imports'.
  2. 12(a)(ii)1 mark· CAPE Economics Unit 2 · 2006 · Paper 1Give ONE example of an export from the Caribbean Community (CARICOM).
  3. 12(b)(i)1 mark· CAPE Economics Unit 2 · 2006 · Paper 1Define the term 'Tariffs'.
  4. 12(b)(ii)1 mark· CAPE Economics Unit 2 · 2006 · Paper 1Define the term 'Export subsidies'.
  5. 12(b)(iii)1 mark· CAPE Economics Unit 2 · 2006 · Paper 1Define the term 'Quotas'.
  6. 13(a)4 marks· CAPE Economics Unit 2 · 2006 · Paper 1State TWO arguments in favour of free trade.
  7. 13(b)2 marks· CAPE Economics Unit 2 · 2006 · Paper 1Give ONE argument in favour of protection.
  8. 14(c)2 marks· CAPE Economics Unit 2 · 2006 · Paper 1With an exchange rate of 1 Kor = 3 Tols, which country will import both steel and corn? Give a reason for your answer.
  9. 5(a)(i)6 marks· CAPE Economics Unit 2 · 2006 · Paper 2Using graph paper, plot the domestic demand and supply curves for shirts.
  10. 5(a)(ii)3 marks· CAPE Economics Unit 2 · 2006 · Paper 2Identify the equilibrium price (PE) and equilibrium quantity (QE).
  11. 5(a)(iii)4 marks· CAPE Economics Unit 2 · 2006 · Paper 2Show the world price of $3 as P_w on the diagram you have drawn.
  12. 5(a)(iv)4 marks· CAPE Economics Unit 2 · 2006 · Paper 2On your diagram, indicate the levels of domestic consumption and domestic production at the world price.
  13. 5(b)(i)3 marks· CAPE Economics Unit 2 · 2006 · Paper 2Show the tariff price as P_t on the diagram you have drawn.
  14. 5(b)(ii)2 marks· CAPE Economics Unit 2 · 2006 · Paper 2Following the imposition of the tariff, by how much will domestic production increase?
  15. 5(b)(iii)2 marks· CAPE Economics Unit 2 · 2006 · Paper 2What is the new level of domestic consumption following the tariff?
  16. 5(b)(iv)3 marks· CAPE Economics Unit 2 · 2006 · Paper 2Following the imposition of the tariff, how many shirts will be imported?
  17. 5(b)(v)3 marks· CAPE Economics Unit 2 · 2006 · Paper 2In terms of tax revenues, how much will the tariff yield?
  18. 5(c)(i)5 marks· CAPE Economics Unit 2 · 2006 · Paper 2On your diagram, shade in the area representing the net welfare loss (deadweight loss) caused by the tariff.
  19. 5(c)(ii)5 marks· CAPE Economics Unit 2 · 2006 · Paper 2Calculate the total loss in welfare (deadweight loss).
  20. 5(d)(i)4 marks· CAPE Economics Unit 2 · 2006 · Paper 2Explain who gains and who loses when a country allows trade and becomes an exporter.
  21. 5(d)(ii)4 marks· CAPE Economics Unit 2 · 2006 · Paper 2Explain who gains and who loses when a country allows trade and becomes an importer.
  22. 5(d)(iii)2 marks· CAPE Economics Unit 2 · 2006 · Paper 2Considering the circumstances in (d)(i) and (d)(ii), do the gains from trade exceed the losses?
  23. 6(a)25 marks· CAPE Economics Unit 2 · 2007 · Paper 2Discuss five arguments that may be used by Caribbean countries in order to keep out imports from foreign countries.
  24. 5(a)(i)6 marks· CAPE Economics Unit 2 · 2008 · Paper 2Outline TWO benefits of exporting goods and services.
  25. 5(a)(ii)6 marks· CAPE Economics Unit 2 · 2008 · Paper 2Outline TWO problems resulting from the importation of goods and services.
  26. 5(a)(iii)3 marks· CAPE Economics Unit 2 · 2008 · Paper 2Explain what is meant by the 'commodity terms of trade'.
  27. 5(a)(iv)4 marks· CAPE Economics Unit 2 · 2008 · Paper 2Identify TWO factors that determine export revenue.
  28. 6(b)(i)3 marks· CAPE Economics Unit 2 · 2008 · Paper 2Explain what is meant by Absolute advantage.
  29. 6(b)(ii)3 marks· CAPE Economics Unit 2 · 2008 · Paper 2Explain what is meant by Comparative advantage.
  30. 6(a)(i)2 marks· CAPE Economics Unit 2 · 2009 · Paper 2Define tariffs.
  31. 6(a)(ii)2 marks· CAPE Economics Unit 2 · 2009 · Paper 2Define quotas.
  32. 6(a)(iii)2 marks· CAPE Economics Unit 2 · 2009 · Paper 2Define non-tariff barriers.
  33. 6(b)8 marks· CAPE Economics Unit 2 · 2009 · Paper 2State FOUR factors that determine a country's export revenue.
  34. 6(a)4 marks· CAPE Economics Unit 2 · 2010 · Paper 2Distinguish between 'absolute advantage' and 'comparative advantage'.
  35. 6(b)9 marks· CAPE Economics Unit 2 · 2010 · Paper 2Outline THREE arguments in favour of protection that these economists could have used to support their position.
  36. 6(c)6 marks· CAPE Economics Unit 2 · 2010 · Paper 2Those countries in favour of the agreement with the European Union argued that the region could receive benefits from free trade with Europe. Outline TWO of these potential benefits.
  37. 6(c)4 marks· CAPE Economics Unit 2 · 2012 · Paper 2Distinguish between 'absolute advantage' and 'comparative advantage'.
  38. 6(a)(i)1 mark· CAPE Economics Unit 2 · 2013 · Paper 2Define 'tariffs'.
  39. 6(a)(ii)1 mark· CAPE Economics Unit 2 · 2013 · Paper 2Define 'quotas'.
  40. 6(a)(iii)1 mark· CAPE Economics Unit 2 · 2013 · Paper 2Define 'non-tariff barriers'.
  41. 6(b)4 marks· CAPE Economics Unit 2 · 2013 · Paper 2Identify FOUR factors that determine a country's export revenue.
  42. 6(a)(i)3 marks· CAPE Economics Unit 2 · 2015 · Paper 2Identify THREE factors which may affect the levels of imports and exports of a country.
  43. 6(a)(ii)a)3 marks· CAPE Economics Unit 2 · 2015 · Paper 2Explain the concept of comparative advantage.
  44. 6(a)(ii)b)3 marks· CAPE Economics Unit 2 · 2015 · Paper 2Explain the effects of foreign exchange earnings on small open economies.
  45. 6(b)(i)2 marks· CAPE Economics Unit 2 · 2015 · Paper 2Define the term 'protectionism'.
  46. 6(b)(ii)4 marks· CAPE Economics Unit 2 · 2015 · Paper 2Discuss the infant industry's argument for protection.
  47. 6(c)(i)2 marks· CAPE Economics Unit 2 · 2015 · Paper 2Define 'trade liberalization'.
  48. 6(c)(ii)8 marks· CAPE Economics Unit 2 · 2015 · Paper 2Discuss TWO benefits of trade liberalization.
  49. 6(a)(i)3 marks· CAPE Economics Unit 2 · 2016 · Paper 2Explain the theory of comparative advantage.
  50. 6(a)(ii)2 marks· CAPE Economics Unit 2 · 2016 · Paper 2Describe the trade patterns in the Caribbean.
  51. 3(b)(i)4 marks· CAPE Economics Unit 2 · 2017 · Paper 2Outline TWO ways in which Caribbean countries benefit from increased exports.
  52. 3(a)2 marks· CAPE Economics Unit 2 · 2018 · Paper 2State TWO reasons why nations trade.
  53. 3(c)(i)3 marks· CAPE Economics Unit 2 · 2018 · Paper 2Explain the effects of import tariffs on consumers from the importing country.
  54. 3(c)(ii)3 marks· CAPE Economics Unit 2 · 2018 · Paper 2Explain the effects of import tariffs on producers from the importing country.

Related topics in Growth, Sustainable Development and Global Relations