Economics 9708 · AS & A Level · Protectionism

Protectionism — practice question

(a)[8]

With the help of a formula, explain two reasons for an improvement in the terms of trade and consider how far an improvement in the terms of trade will benefit an economy.

(b)[12]

Assess how far the effects of free trade are always beneficial for an economy.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “A correct definition of the terms of trade or a correct formula” …

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