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IB Economics HL 4.1 Benefits of International Trade Questions

Practise comparative advantage, PPC diagrams and free-trade calculations in IB Economics HL questions covering specialization, imports, exports and trade effects.

Syllabus
First assessment 2022
Course
IB Economics
Level
HL

Exam points

  • Explain absolute and comparative advantage and use opportunity-cost or production-possibility evidence to identify gains from specialization and trade.
  • Use free-trade diagrams and calculations to determine equilibrium, import or export quantities and welfare effects.
  • Evaluate trade agreements and comparative advantage, including limits from distributional effects, adjustment costs, market access and country context.

Covered syllabus points

4.1.1—Benefits of international trade4.1.2 (HL)—Absolute and comparative advantage4.1.3 (HL)—Limits of comparative advantage4.1.4 (HL)—Trade quantity and value calculations

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