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3 marksInternational Trade

CAPE Economics Unit 2 · 2015 · Paper 2 · Question 6(a)(ii)b)

Explain the effects of foreign exchange earnings on small open economies.

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Other parts of this question

  1. 6(a)(i)Identify THREE factors which may affect the levels of imports and exports of a country.[3 marks]
  2. 6(a)(ii)a)Explain the concept of comparative advantage.[3 marks]
  3. 6(b)(i)Define the term 'protectionism'.[2 marks]
  4. 6(b)(ii)Discuss the infant industry's argument for protection.[4 marks]
  5. 6(c)(i)Define 'trade liberalization'.[2 marks]
  6. 6(c)(ii)Discuss TWO benefits of trade liberalization.[8 marks]

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