IB Economics SL 4.4.2 Trading blocs
IB Economics SL 4.4.2 Trading blocs
Students practise distinguishing trading bloc types by institutional features—and evaluating their real-world impacts—using EU accession, EAC membership, or USMCA as evidence.
How this is tested
- explain how free trade areas differ from common markets in tariffs and factor mobility
- evaluate South Sudan’s EAC membership using trade diversion and customs revenue
- use a tariff diagram to show a customs union removes internal duties and adds a CET