The questions to be answered are;
Assessment Question Week 2 Question 1: World Trade Overview and Gravity Model
In the 19th Century Britain was trading with countries from distant locations such as North America, Latin America, Africa and Asia. Today, Britain mostly trades with European countries. Examine the causes of the British changing trade pattern with reference to the Gravity Model. (7 Marks)
Assessment Question Week 4 Question 2: Resources and Trade: Heckscher-Ohlin (H-0) Model
How does the Ricardian model differ from the H-0 theory in explaining international trade patterns among nations. (7 Marks)
Assessment Question Week 6 Question 3: Economies of Scale, Imperfect Competition and International Trade
Trade need not be the result of comparative advantage but it can be a result of economies of scale. Discuss. (7 Marks)
Assessment Question Week 7 Question 4: International Factor Movements
Explain the effects of migration of labour between two nations. Use the figure below and the marginal product of labour concept to explain your answer. (11