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Pearson Edexcel IAL Economics

Unit 3: Business Behaviour

Unit 4: Developments in the Global Economy

4.3.1 - Causes and effects of globalisation

4.3.2 - Trade and the global economy

4.3.2.1a - Benefits and costs of specialisation and trade in the international comparative

4.3.2.1b - theory of comparative advantage: • the distinction between absolute and comparative

4.3.2.2a - Factors influencing patterns of trade between countries and causes volume of world of

4.3.2.2b - Changes in trade flows between countries, and the reasons for these changes

4.3.2.3a - Understanding and calculation of the terms of trade

4.3.2.3b - Factors influencing a country's terms of trade, changes in: • relative inflation rates

4.3.2.3c - impact of changes in a country's terms of trade on: • export revenues • living

4.3.2.4a - role of the World Trade Organization (WTO) in trade liberalisation and liberalisation.

4.3.2.4b - Types of trading blocs: • free-trade areas • customs unions • common markets • economic

4.3.2.4c - Costs and benefits of membership of a trading bloc: • trade creation • trade diversion

4.3.2.4d - Possible conflicts between trading blocs and the WTO

4.3.2.5a - Reasons for restrictions on free trade: free trade • to protect infant and geriatric

4.3.2.5b - Types of restrictions on free trade: • tariffs • quotas • non-tariff barriers •

4.3.2.5c - Impact of protectionist policies on: • consumers • producers • governments • living

4.3.3 - Balance of payments, exchange rates and international competitiveness

4.3.4 - Poverty and inequality

4.3.5 - The role of the state in the macroeconomy

4.3.6 - Growth and development in developing, emerging and developed economies

Assessed quantitative skills

A-Level/Edexcel/Economics//A2/Concept/Unit 4: Developments in the Global Economy/4.3.2 - Trade and the global economy/4.3.2.3b - Factors influencing a country's terms of trade, changes in: • relative inflation rates

Unit 4: Developments in the Global Economy

Syllabus: 2018
Section: —
Level: A2

Exam analysis

Most tested topics

Causes and effects of globalisation
Trade and the global economy
Balance of payments, exchange rates and international competitiveness
Poverty and inequality
The role of the state in the macroeconomy
Growth and development in developing, emerging and developed economies