Quelpr
2 marksTrade Theories and Commercial Policy

CSEC Economics · May/June 2015 · Paper 2 · Question 3(d)(ii)

Table 2 shows the combinations of agricultural and manufactured products two countries can produce using the same resources.

State, with reason, which country has a comparative advantage in the production of agricultural products.

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Other parts of this question

  1. 3(a)(i)Define the term 'Terms of trade'.[2 marks]
  2. 3(a)(ii)Define the term 'Balance of payments'.[2 marks]
  3. 3(b)Name ONE of the three MAIN parts of the balance of payments statement.[1 mark]
  4. 3(c)(i)An increase in international demand for the country's local products[3 marks]
  5. 3(c)(ii)An increase in local demand for imported goods[3 marks]
  6. 3(d)(i)State, with reason, which country has absolute advantage in the production of the two types of products.[2 marks]

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