Help (1 Viewer)

[MMchen]

hey everyone...

I was wondering if anyone know where i can dl answers for past HSC papers for eco ( board only has guidelines). If anyones does, can u please provide are link or something?!...

thanks alot
ALSO....can anyone help with this??..

Describe TWO economic effects that the protection of domestic industries has on GLOBAL trade.


Gluck in examzZ

 

[numg]

Well for the 2002 paper i don't think the answers can get any better than this...

http://www.boredofstudies.org/community/showthread.php?s=&threadid=18514

 

[timmii]

Protection lowers the level of world production. Inefficient producers abstract resources from more efficient producers so the maximum output is not realised and economies of scale cannot be achieved of the optimum level.

Prices are higher because of trade barriers than they otherwise would be - because of tariffs, and also because the world level of supply is lower. The quality of goods and services and the variety available is also lower than it would be with free trade.

 

[MMchen]

thanks alot for that dude..!