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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.
Your project is behind schedule and you are seeing adding extra employees to the team. What would be the potential benefits and drawbacks of this approach? Given that the slipp
Star Petroleum and Moonlight Petroleum are retail petrol stations that compete in the local market to sell petrol to consumers. Star and Moonlight are located across the street fro
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Suppose an oligopoly consists of three identical firms. Industry demand is P = 100 - 2Q and MC = AC = 20. What is the Cournot–Nash equilibrium output in this industry
1) Between mid 2008 and mid 2009 measured RGDP in the economy fell by 3.8% as the US economy sank into a recession. Over that same time period total employment in terms of hours wo
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how economics useful for businesses
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How does product life cycle works
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