International trade and globalisation

Worked examples (6)

• 1Define 'free trade' (2 marks)
• 2Explain benefits of free trade (4 marks)
• 3Analyse the effects of a tariff (6 marks)
• 4Analyse changes in globalisation (6 marks)
• 5Discuss whether protectionism benefits an economy (8 marks)
• 6Discuss whether globalisation helps developing countries (8 marks)

Model answers (6)

• ✓Model answer — Paper 2, Section B part (a) style
• ✓Model answer — Paper 2 short-answer style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (d) style
• ✓Model answer — Paper 2, Section B part (d) style

Worked examples (6)

• 1Define 'exchange rate' (2 marks)
• 2Convert between currencies (4 marks)
• 3Analyse the effects of an appreciation (6 marks)
• 4Analyse reasons for buying foreign currency (6 marks)
• 5Discuss whether a depreciation benefits an economy (8 marks)
• 6Discuss whether depreciation always improves trade balance (8 marks)

Model answers (6)

• ✓Model answer — Paper 2, Section B part (a) style
• ✓Model answer — Paper 2, data-response calculation style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (d) style
• ✓Model answer — Paper 2, Section B part (d) style

Worked examples (6)

• 1Define 'current account' (2 marks)
• 2Explain the current-account components (4 marks)
• 3Analyse causes of a current account deficit (6 marks)
• 4Analyse policies to reduce a deficit (6 marks)
• 5Discuss whether a deficit is always a problem (8 marks)
• 6Discuss whether a surplus is always beneficial (8 marks)

Model answers (6)

• ✓Model answer — Paper 2, Section B part (a) style
• ✓Model answer — Paper 2, data-response calculation style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (c) style
• ✓Model answer — Paper 2, Section B part (d) style
• ✓Model answer — Paper 2, Section B part (d) style