DP Economics Questionbank
4.1 Benefits of international trade
Description
[N/A]Directly related questions
-
21M.2.SL.TZ0.1d:
Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.
-
18M.3.HL.TZ0.3a:
Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.
- 18M.3.HL.TZ0.3b: Using information provided in the diagram to support your answer, determine which country should...
- 18M.3.HL.TZ0.3c: Distinguish between the terms absolute advantage and comparative advantage.
- 18M.3.HL.TZ0.3d: Explain two reasons why specialisation in a narrow range of primary products according to the...
-
18N.2.HL.TZ0.1a.ii:
Define the term comparative advantage indicated in bold in the text (paragraph [5]).
-
19M.3.HL.TZ0.2a:
Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.
Figure 4
-
19M.3.HL.TZ0.2b:
Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.
- 19M.3.HL.TZ0.2c: Outline one reason why it might not be in a country’s best interests to specialize according to...
-
20N.3.HL.TZ0.2f.i:
Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.
- 20N.3.HL.TZ0.2f.ii: Using the data and the concept of opportunity costs to support your answer, determine which good...
- 20N.3.HL.TZ0.2g: Explain two gains from trade that arise when Country J and Country H specialize according to...
-
20N.3.HL.TZ0.3d.i:
Using Figure 6, identify the equilibrium price when Country B engages in free trade.
-
20N.3.HL.TZ0.3d.ii:
Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.
-
20N.2.HL.TZ0.2d:
Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.
-
20N.2.HL.TZ0.4a.i:
Define the term absolute advantage indicated in bold in the text (paragraph [3]).
-
21M.2.HL.TZ0.1a.ii:
Define the term free trade indicated in bold in the text (paragraph [1]).
-
21N.2.HL.TZ0.2c:
Using a production possibilities curve (PPC) diagram to illustrate comparative advantage, explain why the EU would export cars to Indonesia and Indonesia would export clothing to the EU (paragraph [2]).
-
22M.1.HL.TZ0.3a:
Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.
-
22M.2.HL.TZ0.1d:
Using a production possibilities curve (PPC) diagram to show comparative advantage, explain why Vietnam would export seafood to Japan while Japan would export machinery to Vietnam (Text B, paragraph [1]).
-
22M.3.HL.TZ0.1a.iv:
Using the information in Figure 1, calculate the change in the value of Burundi’s gold exports resulting from the increase in the price of gold from US$1500 per oz to US$1800 per oz.
Sub sections and their related questions
4.1.1 Benefits of international trade
-
20N.3.HL.TZ0.3d.i:
Using Figure 6, identify the equilibrium price when Country B engages in free trade.
-
20N.3.HL.TZ0.3d.ii:
Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.
-
20N.2.HL.TZ0.2d:
Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.
-
20N.2.HL.TZ0.4a.i:
Define the term absolute advantage indicated in bold in the text (paragraph [3]).
-
21M.2.HL.TZ0.1a.ii:
Define the term free trade indicated in bold in the text (paragraph [1]).
-
22M.3.HL.TZ0.1a.iv:
Using the information in Figure 1, calculate the change in the value of Burundi’s gold exports resulting from the increase in the price of gold from US$1500 per oz to US$1800 per oz.
4.1.2 Absolute and comparative advantage
-
18M.3.HL.TZ0.3a:
Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.
- 18M.3.HL.TZ0.3b: Using information provided in the diagram to support your answer, determine which country should...
- 18M.3.HL.TZ0.3c: Distinguish between the terms absolute advantage and comparative advantage.
-
18N.2.HL.TZ0.1a.ii:
Define the term comparative advantage indicated in bold in the text (paragraph [5]).
-
19M.3.HL.TZ0.2a:
Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.
Figure 4
-
19M.3.HL.TZ0.2b:
Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.
-
20N.3.HL.TZ0.2f.i:
Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.
- 20N.3.HL.TZ0.2f.ii: Using the data and the concept of opportunity costs to support your answer, determine which good...
- 20N.3.HL.TZ0.2g: Explain two gains from trade that arise when Country J and Country H specialize according to...
-
20N.2.HL.TZ0.4a.i:
Define the term absolute advantage indicated in bold in the text (paragraph [3]).
-
21N.2.HL.TZ0.2c:
Using a production possibilities curve (PPC) diagram to illustrate comparative advantage, explain why the EU would export cars to Indonesia and Indonesia would export clothing to the EU (paragraph [2]).
-
22M.1.HL.TZ0.3a:
Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.
-
22M.2.HL.TZ0.1d:
Using a production possibilities curve (PPC) diagram to show comparative advantage, explain why Vietnam would export seafood to Japan while Japan would export machinery to Vietnam (Text B, paragraph [1]).
4.1.3 Limitations of the theory of comparative advantage
- 18M.3.HL.TZ0.3d: Explain two reasons why specialisation in a narrow range of primary products according to the...
- 19M.3.HL.TZ0.2c: Outline one reason why it might not be in a country’s best interests to specialize according to...
-
22M.1.HL.TZ0.3a:
Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.