International trade questions | form six Economics

Does favourable terms of trade imply favourable balance of trade?

Answer / Solution

UNSOLVED

Distinguish between devaluation and revaluation.

Answer / Solution

UNSOLVED

Examine the merits and demerits of trade restrictions as they are applied in international trade.

Answer / Solution

UNSOLVED

1. Distinguish between the following

1. Balance of trade and balance of payment
2. Terms of trade and visible balance
3. Theory of absolute advantage and comparative advantage

2. Show the application of the theory of comparative cost.

Answer / Solution

UNSOLVED

1. Explain the following concepts

1. Trade creation
2. Trade diversion

2. Briefly indicate how each of the above concepts may help or hinder the progress of regional economic grouping in Africa.

Answer / Solution

UNSOLVED