Explain how differential access to markets can impact on economic well-being - AQA - A-Level Geography - Question 1 - 2020 - Paper 2
Question 1
Explain how differential access to markets can impact on economic well-being.
[4 marks]
Worked Solution & Example Answer:Explain how differential access to markets can impact on economic well-being - AQA - A-Level Geography - Question 1 - 2020 - Paper 2
Step 1
Being in a trading bloc increases the potential for trade
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Answer
For instance, being part of a trading bloc like NAFTA allows countries such as Mexico to trade more freely with the US. This improved access to the US market enhances economic well-being for Mexico, which can lead to increased job creation and income for its citizens.
Step 2
Limits to market access can hinder economic opportunities
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Countries that do not have access to trade blocs, such as Ukraine, might struggle to negotiate their own trade agreements. This lack of access can restrict their markets, making it difficult for them to benefit from international trade.
Step 3
Trade agreements and preferential access
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Some trade agreements can be seen as unfair, especially for developing nations. These countries may face barriers that prevent them from easily accessing developed markets, which can limit their economic growth.
Step 4
Role of international agreements in market access
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International arrangements such as the EU’s provisions ensure preferential access for member states. However, non-member countries often face strict quotas, which can restrict their market income and hinder growth opportunities.
