The Role of International Trade 4.4
IB Syllabus Requirements: Trade problems facing many economically less developed countries
• With reference to specific examples, explain how the following factors are barriers to development for economically less developed countries.
a. Over-specialization on a narrow range of products
b. Price volatility of primary products
c. Inability to access international markets
HL Requirement:
• With reference to specific examples, evaluate the following factor as a barrier to development for economically less developed countries.
a. Long-term changes in the terms of trade
Trade strategies for economic growth and economic development
• With reference to specific examples, evaluate each of the following as a means of achieving economic growth and economic development.
a. Import substitution
b. Export promotion
c. Trade liberalization
d. The role of the WTO
e. Bilateral and regional preferential trade agreements
f. Diversification
Trade and Development Review Videos:
Policies to Promote Trade and Development:
The WTO, IMF and World Bank: