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Exam-style questions: Questions on interest rates and investment

QUESTION AND ANSWER

International trade and protectionism

In this article David Horner sets out how you might think about a two-part essay that covers the theory of specialisation and trade, and also the arguments for and against free trade and protectionism.

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You are most likely aware of the argument put forward by Adam Smith — if workers specialise in particular tasks, output can be increased significantly. The same is true for individual countries.

However, the theories of trade that explain how countries would be better off specialising are not always as easily understood. An example essay on this topic might include the following questions:

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How to stop people from overspending? The use of default rules

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Exam-style questions: Questions on interest rates and investment

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