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Edexcel A-Level Economics A2 4.3.2 5a Reasons for Restrictions on Free Trade Free Trade to Protect Infant and Geriatric Questions

Practise explaining why governments restrict free trade, from anti-dumping and jobs to strategic industries and current-account concerns.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
A2

Exam points

  • explain anti-dumping, infant or geriatric industry, employment and national-security reasons for restrictions
  • analyse tariffs through current-account effects, government revenue and consumer-price impacts
  • evaluate restrictions using tariff size, elasticity, retaliation, comparative advantage and industry context

Edexcel A-Level Economics A2 4.3.2 5a Reasons for Restrictions on Free Trade Free Trade to Protect Infant and Geriatric Questions question 1

[Maximum number: 1]

In 2018 the UK Government introduced tariffs on imported steel. In 2022 it decided to maintain these tariffs until 2024.

Which one of the following is the most likely reason why the UK Government maintained these tariffs until 2024?

A

To increase the level of unemployment in the UK steel industry

B

To prevent dumping of steel in the UK from foreign countries

C

To protect transnational companies supplying steel to the UK

D

To decrease government revenue from tariffs on imported steel

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