Ecs 3702 Study guides, Class notes & Summaries

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ECS3702 EXAM PACK 2022 ECS3702 EXAM PACK 2022

ECS3702 Assignment 2 Semester 2 2022 ECS3702 Assignment 2 Semester 2 2022

ECS3702 ASSIGNMENT O1 2021 WITH EXPLANATIONS, 100% GUARANTEED

Learning Unit 1 Introduction International trade is an extension of domestic trade, that voluntary involves the exchange of goods and services, which to a larger extent lead to increase in the eco nomic welfare of the parties that engage in trade. Through specialisation international trade leads to increase in output as countries specialise in the production and exporting goods they can produce cheap and better. The differences between international trade and domestic trade are many, for instanc...

Content: Question 1 a) Briefly explain why increasing opportunity costs in production arise b) Briefly explain why the production frontiers of different countries have different shapes c) Explain with the aid of a diagram, the gains from trade (exchange and specialization) when increasing costs Question 2 a) Discuss the forms or regional integration. Give an example of each b) Under what conditions will a customs union result in trade creation and higher welfare levels? c) Discuss the ...

ECS 3702 Assignment 02 Unique Number: Student Number:

ECS 3702: INTERNATIONAL TRADE STUDY GUIDE 2020/2021/ECS 3702: INTERNATIONAL TRADE STUDY GUIDE 2020/2021 SUCCESS IN YOUR EXAMS

ECS_3702 Q&A Merged. ECS3702 Q&A Merged Question 1 An appreciation of the rand against the US dollar, will result in increased South African imports from the US, this is because fewer Rands can now purchase more US dollars, implying that South Africans now find it cheaper to buy US goods. Question 2 One of the possible effects of a recession in South Africa, on its trade with SADC member states is, widening of South Africa’s trade deficit, which implies that South Africa is expo...

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