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Thursday, 19 January 2017

Theme 4: Free trade - Good or Bad

We rather take for granted the maxim that free trade is a good thing. This article from the BBC's Andrew Walker might just, at the margin make you think again. It makes it clear that economic theory is unequivocal: free trade is good for the whole, but that this doesn't mean that it's good for every individual.
And then it goes on looking at whether or not, even accepting for economy-wide gains, the losers from free trade are adequately compensated, and it concludes that rarely are. As Lawrence Mischel of the Economic Policy Institute, is quoted as saying that "The winners have never tried to fully compensate the losers, so let's stop claiming that trade benefits us all."

Theme 3: Contestability - The UK Gym market

Many A-Level Business & Economics students are looking in depth this year at the UK gym market 
as part of their exam preparations. Some of Jim's tweeted charts are superb context for 
understanding the contestability of the sector and in particular the rapid emergence of new low-cost 
gyms with different pricing models.
The most significant change in the UK Fitness Club market in recent years has been the rapid growth of budget chains 

tutor2u Business 

Theme 4: Essay on trade patterns

In the early 1970s, the USA, Germany and Japan accounted for over one-third of
world trade but, by the 1990s, global trade had become more diversified. By 2012,
China was the world’s second largest trading country after the USA.

Assess the factors that may cause changes in a country’s pattern of trade with
other countries. (20 Marks)


Introduction - definitions
3 analysis points
2/3 evaluation

You could possibly include the following:

Trade Blocs
Currency movements
Terms of trade
Transport Costs
Exploit comparative advantage/specialisation
Collapse of communism
Isolationism (relatively new - BREXIT?TRUMP)
Political stability
FDI - Towards East/Asia/Africa
Tariffs & Quotas
The search for new resources - Africa/South America

Theme 2 & 4: UK Unemployment figures released - Feb 17

Click here for the latest data on UK unemployment. What you should be doing is asking why this is the case. What have the government done to encourage this fall in unemployment or is it external factors (fall in the pound, growth of world economy etc)

Wednesday, 18 January 2017

All Themes: Multiple Choice and short answers

Theme 4: The Terms of Trade

More on the Terms of Trade Primary Product Dependency and the Terms of Trade - excellent practical presentation with real world examples