ECS3702 International Trade (ECS3702)

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ECS3702 EXAM PACK 2023 200+ QUESTIONS AND CORRECT ANSWERS WITH SUMMARISED NOTES. Question 1a Briefly Explain the Following terms (a) Absolute Advantage Absolute advantage is the ability of a country to produce a greater quantity of a good or service with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser quantity of inputs, than another entity that produces the same good or service. (b) Factor Intensity T...

ECS3702 Study Notes 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 .

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ECS3702 Assignment 3 (Detailed Answers) Semester 1 2023 (Due 10th April 2023) 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 .

ECS3702 Assignment 3 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . QUESTION 1 Discuss the potential trade effects and subsequent channels through which the covid-19 pandemic has affected a developing economy such as South Africa. [5 marks] QUESTION 2 Explain briefly In your own words why international trade is important for a developing country. [10 marks] 2 3 QUESTION 3 Consider the following hypothet...

ECS3702 EXAM PACK 2023

ECS3702 EXAM PACK 2023

May/June 2015 (A) Complete the following table using the information above. Gold Tea South Africa 4 20 Kenya 1 5 (B) Which country has an absolute advantage in the production of gold? tea? Gold is South Africa that is 4 compared to 1 of Kenya. Tea is South Africa 20 as compared to 5 of Kenya. (C) South Africa and Kenya have equal production of both goods. For RSA 1g means a sacrifice of same for Kenya. (D)No gains, because the countries have equal advantage .meaning the opportunity ...