Economics 2281 · O Level · Globalisation, free trade and protection
Globalisation, free trade and protection — practice question
World output has risen in recent years, yet several countries have gone through recession. The easing of trade barriers, including import tariffs, has slowed, which has reduced the pace at which world trade is growing.
(a)[2]
What does the term import tariff mean?
(b)[4]
Explain two benefits that can result from an increase in world output.
(c)[6]
Analyse how a recession can cut a country’s imports.
(d)[8]
Discuss whether a developing country would gain from the removal of trade restrictions.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “A levy” …