Review/Revision
Unit 4.4: Economic integration
This page covers the various types of economic integration, including free trade areas, customs unions, common markets, and monetary unions. It also covers the HL topics of trade creation and trade diversion....
Review/Revision
Unit 4.3: Reasons why governments restrict free trade
This page covers the different reasons for trade barriers and the costs and benefits of protectionism. Governments set trade barriers when a country tries to develop an industrial base to protect a...
Review/Revision
Unit 4.2: Types of trade protectionism
This page covers the different types of trade barriers. It includes an analysis of tariffs, quotas, trade subsidies and administrative barriers. Definition Tariffs are taxes imposed on imported goods...
Review/Revision
Unit 4.1: Benefits of international trade
This page covers the benefits of international trade and the Higher Level topics of absolute and comparative advantage. International trade means consumers and businesses can access goods and services...
Review/Revision
Unit 3.7(2) Interventionist supply side policies
This page covers interventionist supply-side policies and how they might be used to increase economic growth, reduce unemployment and reduce inflation. An interventionist supply-side policy is when the...
Review/Revision
Unit 3.7(1) Market based supply-side policies
This page covers market-based supply-side policies and how they might be used to increase economic growth, reduce unemployment and reduce inflation. Market-based policies involve the government creating...
Review/Revision
Unit 3.6 Government management of the economy – fiscal policy
This page covers the nature of fiscal policy, the multiplier, taxes, government expenditure, government borrowing, and expansionary and contractionary monetary policy. Fiscal policy is where the government...
Review/Revision
Unit 3.5 Government management of the economy – monetary policy
This page covers the nature of monetary policy, the demand and supply of money, credit creation, interest rates and expansionary and contractionary monetary policy. Monetary policy is when the government...
Review/Revision
Unit 3.4(2) Policies to improve equality, equity and poverty
This page covers the policies used to improve equity, equality and reduce poverty. It includes taxation and other forms of government intervention such as minimum wages, education and regulations. Direct...
Review/Revision
Unit 3.4(1) Economics of inequality and poverty
This page covers the difference between equality and equity, how to measure inequality, the meaning of poverty, how to measure the causes of inequality and poverty, and the impact of income and wealth...