DP Economics Questionbank

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Define the term free trade area indicated in bold in the text (paragraph [1]).

Using real-world examples, discuss the advantages and disadvantages for a country of being a member of a trading bloc. 

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using real-world examples, discuss the advantages and disadvantages for a country of being a member of a trading bloc. 

Using information from the texts/data and your knowledge of economics, discuss the likely economic effects on North Macedonia of its entry into the European Union (EU) Common Market.

Define the term monetary union indicated in bold in the text (paragraph [1]).

State two functions of the WTO.

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

List two functions of the World Trade Organization (WTO) (paragraph [2]).

State two functions of the World Trade Organization (WTO) (paragraph [6]).