First Offical HSC Assessment on Protection (1 Viewer)

[cs01001]

Hey,

I will be having my first Eco assessment in less than two weeks - (7/11/07). I will be tested on

Free trade and protection

- The basis of free trade
-> Advantage/disadvantage
- Reason for protection
1.) Infant industry
2.) Domestic employment
3.) Dumping
4.) Defence

- Methods of protection and the effects of protectionist policies on the domestic and global economy
1. Voluntary export restraint
2. Tariffs
3. Subsidies
4. Local Content Rules
5. Export incentive

There will be 2 short answers and one extended response.​

I have basically learnt all the information for all teh points above, can anyone please give some advice as to what might be in the test, and also share relevant questions for pratice?

Thanks.

 

[bikapika]

economics is about thinking. just stay calm during the assessment and your knowlegde will be recognised.

 

[chocomania]

hey does anyone know any good ESSAY type questions that may come up on free trade, protection etc? anyone with any tips on essay writing plees say, thts my major weak point!! also, what is ASEAN?

 

[Ozza]

Hey,

I will be having my first Eco assessment in less than two weeks - (7/11/07). I will be tested on

Free trade and protection

- The basis of free trade
-> Advantage/disadvantage
- Reason for protection
1.) Infant industry
2.) Domestic employment
3.) Dumping
4.) Defence

- Methods of protection and the effects of protectionist policies on the domestic and global economy
1. Voluntary export restraint
2. Tariffs
3. Subsidies
4. Local Content Rules
5. Export incentive

There will be 2 short answers and one extended response.​

I have basically learnt all the information for all teh points above, can anyone please give some advice as to what might be in the test, and also share relevant questions for pratice?

Thanks.

Kk, I have some extended responses for you to view, dw about trying to write essays for them, just plan how you'd write them... i.e dot points and/or lists etc.

Extended responses:

Discuss the impact of reduced protection on firms, individuals and gov't within the Australian economy.

Outline recent changes in Australia's trade policy and the goals the gov't is attempting to achieve for the Australian economy.

Analyse the impact of global protectionist policies on the Australian economy.

Short answers: (I stole these from the textbook)

Define Protection
Outline the goals of the government in reducing protection
Describe the impact of free-trade on the CAD
Analyse the impact of global protectionist policies on firms and individuals.



I picked out specific questions there because probably more important than anyting else is the effects of protection on the economy. Which is a rather lengthy list, but if you condense it into points, is rather easy to remember.