(a)
- Compare the price of copper in the middle of 2003 and the middle of 2006. [2]
- Explain one change in demand and one change in supply that might have brought about this movement in the price of copper. [4]
(b)
- Calculate Chile’s approximate visible trade balance for 2005. [2]
- What information, in addition to that shown in Fig. 1, would be needed to calculate Chile’s current account balance in 2006? [4]
(c)
- How did copper's importance within Chile’s exports change between 2002 and 2005? [2]
- Discuss whether it is desirable for a country to specialise in the production and export of just one good. [6]