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Question 1:
a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'.
b) According to you, can the ‘Factor Endowment Theory' be a reasonable explanation of the pattern of world trade nowadays?
Question 2:
a) Identify and explain any 3 types of non-tariff barriers (NTBs).
b) According to you, are tariffs or NTBs more distortionary to trade?
Question 3:
a) Explain the principle of ‘Liberalisation' and ‘Non-discrimination' as laid down by GATT 1947.
b) According to you, are these principles beneficial for developing countries (including least developed countries)?
Question 4:
The Trade Related Aspects of Intellectual Property Rights (TRIPs) agreement has largely influenced global trade since 1995.
a) Explain what intellectual property rights are and why they are applied.
b) Discuss why NGOs have been protesting against the inclusion of TRIPs agreement into World Trade Organisation (WTO) rules.
Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b
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Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
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QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec
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