IB Economics HL 4.4 Economic Integration Questions

Practise distinguishing free-trade areas, customs unions and common markets, then evaluate monetary integration, labour mobility and sovereignty in HL questions.

Exam points

Define economic integration and distinguish preferential trade agreements, trading blocs, monetary unions and the WTO.
Explain trade creation, trade diversion, common monetary arrangements and how trading blocs or the WTO coordinate trade.
Evaluate economic integration and monetary unions using benefits, constraints, policy coordination, sovereignty, trade effects and country-context evidence.

Covered syllabus points

4.4.1—Preferential trade agreements 4.4.2—Trading blocs 4.4.3—Advantages of trading blocs 4.4.4—Disadvantages of trading blocs 4.4.5—Monetary union 4.4.6—World Trade Organization 4.4.7 (HL)—Trade creation 4.4.8 (HL)—Trade diversion 4.4.9 (HL)—Monetary union evaluation

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