Economics 9708 · AS & A Level · International trade and free trade

International trade and free trade — practice question

The US President approved a trade agreement that granted Latin American and Caribbean countries wider duty-free entry into the US market. Who could gain in the short run from this agreement?

  • ACaribbean countries, because they may export to Latin America.
  • BLatin American businesses, because they may be able to sell more in the US.
  • CLatin American governments, because they will not have to pay so much duty.
  • DThe US, because it may export more to Latin America.

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI