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Criticisms of WTO

Readers Question: Has the WTO abused its power? The WTO is committed to improving free trade amongst its member countries. However, its role has been very controversial –  creating polarised views. These are some of the criticisms of the WTO Free Trade benefits developed countries more than developing countries. It is argued, developing countries need some trade protection to be able to develop new industries. The WTO have sought to maintain the same rules for developing countries preventing them from protecting new industries. (This is known as the infant…

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Does China Pose a Threat to the World Economy?

China recently became the second largest economy in the world. According to the IMF, in 2010, the Chinese economy was $5,878,257 million – second only to the US economy. If we use GDP at purchasing power parity, the size of the Chinese economy is estimated to be even larger, at around $10,119,896 million. However, it also has an enviable growth rate of close to 10%; at this rate of economic growth, China is forecast to become the dominant world economy within 10 or 20 years.   The rise of the Chinese…

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Industrial Economics Edexcel

Economics Syllabus for A Level (Edexcel) Unit 4: Industrial Economics 1. Birth and Growth of New Firms 2. Costs 3. Production Decisions 4. Alternative Motives of Firms 5. Efficiency (productive and allocative 6. Perfect Competition 7. Imperfect Competition 8. Oligopoly 9. Monopoly 10. Price Discrimination 11. Pricing and Non Pricing Decisions • Cost Plus Pricing • Predatory Pricing • Limit Pricing • Advertising and sales promotion policies 12. Collusion and Cartels 13. Barriers to Entry and Exit 14. Contestable Markets 15. Competition Policy 16. Regulation of Privatised Industries A Level Economics.co.uk

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Short Answer Economic Questions

1. What is the formula for AD 2. Which is the largest component of AD 3. If there is an increase in imports what happens to AD? 4. What is the nominal GDP 5. If there is an increase in the rate of income tax what is the effect on AD 6. Define productivity 7. What is the savings ratio? 8. What is gross fixed capital investment 9. If there is an increase in wages what will be the effect on SRAS and AD 10. To increase the value of the exchange rate what needs to happen to interest rates? 11. If there is a depreciation in the exchange rate…