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International Trade (A2)

Protectionism: Free trade compared with protectionist measures

  • 3 things to know
  • A2 Units 3 and 4

Overview

What free trade offers consumers and producers and what it can cost, set against quotas, subsidies, administrative barriers, standards, embargoes and the effect of a tariff on domestic price.

What you need to know

Answer each one before you reveal it.

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Key term

How does free trade benefit consumers in terms of the variety of goods available?

Key term

Explain how free trade leads to lower prices for consumers.

Key term

What type of unemployment can result from free trade in industries that cannot compete internationally?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    How does free trade benefit consumers in terms of the variety of goods available?

    Model answer

    Free trade increases consumer choice by allowing access to a wider range of goods and services from different countries.

  2. 2

    Explain how free trade leads to lower prices for consumers.

    Model answer

    Free trade increases competition between domestic and foreign producers, which drives down prices as firms compete for customers.

  3. 3

    What advantage does free trade provide to domestic producers regarding market size?

    Model answer

    Free trade gives producers access to larger markets beyond their domestic economy, enabling them to sell to more customers and achieve greater sales volumes.

  4. 4

    How does free trade improve productive efficiency?

    Model answer

    Free trade allows countries to specialise in producing goods where they have a comparative advantage, leading to more efficient use of resources and higher productivity.

  5. 5

    What type of unemployment can result from free trade in industries that cannot compete internationally?

    Model answer

    Structural unemployment, as workers in uncompetitive industries lose their jobs when domestic firms cannot compete with cheaper imports.

  6. 6

    Why might a country become vulnerable if it relies heavily on free trade for essential goods?

    Model answer

    Free trade can create over-dependence on foreign suppliers, leaving a country vulnerable to supply disruptions, price fluctuations, or political tensions.

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