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IB Economics HL 4.3 Arguments for and Against Trade Control Protection Questions

Practise HL evaluation of trade protection using country evidence, dumping and retaliation, while weighing growth, welfare, industry support and long-run efficiency.

Syllabus
First assessment 2022
Course
IB Economics
Level
HL

Exam points

  • Explain arguments for trade protection, including infant-industry, employment, diversification, strategic and anti-dumping arguments.
  • Explain arguments against trade protection, including higher prices, reduced choice, inefficiency, retaliation and resource misallocation.
  • Evaluate free trade versus protection using country evidence and trade-offs among efficiency, equity, development, strategic objectives and long-run adjustment.

Covered syllabus points

4.3.1—Arguments for trade protection4.3.2—Arguments against trade protection4.3.3—Free trade versus protection

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