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Cambridge IGCSE Economics practice

Paper 2 structured question: Globalisation, free trade and protection

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Globalisation, free trade and protection

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Paper 2Structured Questions2 marks

A country has imposed an import quota on rice to support its local farmers.

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Effects of Import Quotas

The import quota is expected to limit the amount of rice available in the market, potentially increasing prices.

  1. a

    Explain the potential effects of the import quota on local rice prices and consumer choices

    Aim for approximately 2 distinct marking points.

    [2]

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Paper 2 structured question: Globalisation, free trade and protection

Paper 2Structured Questions1 marks

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Impact of Tariffs on Local Industry

The introduction of tariffs on imported steel is expected to raise prices for consumers and increase revenue for the government.

  1. a

    State one reason why the government might impose tariffs on imported steel

    Aim for approximately 1 distinct marking point.

    [1]