Trade Policy and Interventionist Strategies (Edexcel A-Level Economics A): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What externality effect occurs when educated workers cooperate together?
What externality effect occurs when educated workers cooperate together?
Marginal social benefit exceeds private
Why do healthcare vaccination programmes create positive externalities?
Why do healthcare vaccination programmes create positive externalities?
Social benefits exceed private benefits
What is the main purpose of import substitution strategy?
What is the main purpose of import substitution strategy?
Produce goods at home previously imported
What problem arises from protecting infant industries?
What problem arises from protecting infant industries?
Firms develop inward-looking attitudes
How do buffer stock schemes stabilise commodity prices?
How do buffer stock schemes stabilise commodity prices?
Buy excess supply, sell when supply low
What happens if buffer stock prices are set too high?
What happens if buffer stock prices are set too high?
Stocks accumulate, become unsustainable
What did the Lewis model suggest about agricultural labour?
What did the Lewis model suggest about agricultural labour?
Surplus labour could transfer to industry
What characteristic makes tourism attractive for development?
What characteristic makes tourism attractive for development?
Strongly positive income elasticity
What market failure do fair trade schemes primarily address?
What market failure do fair trade schemes primarily address?
Abuse of market power
What is Dutch disease in the context of overseas aid?
What is Dutch disease in the context of overseas aid?
Aid causes exchange rate rise hurting exports