International trade questions | form six Economics

Outline the objectives of G.A.T.T. This is the General Agreement on Tariffs and Trade. The GATT came forward as a result of the 1947 General Conference. It is a multinational treaty encompassing 80% of the World Trade.

Answer / Solution

UNSOLVED

Discuss the main objectives of UNCTAD.

Answer / Solution

UNSOLVED

Explain the main roles of the World Bank and IMF.

Answer / Solution

UNSOLVED

You are given the following information.

The figures represent input quantities per unitof the corresponding commodities.

1. Which country has an absolute advantage in producing the following crops?

1. Cotton
2. Sisal

Give reasons to support your answers

2. Which country has comparative advantage in producing the following crops?

1. Cotton
2. Sisal

Give reasons to suport your answers

100. With reasons suggest how the two countries should specialize in producing the two commodities so as to encourage trade between them.

Answer / Solution

UNSOLVED

1. Differentiate a current account from  a capital account
2. Giving seven reasons , show that international trade is vital to the domestiv economy.

Answer / Solution

UNSOLVED