Short answer questions
Identify the economic problems faced by developing countries when their economies are dependent on the export of primary products.
Explain the likely impact of the rapid rise in metal prices on the terms of trade of developing countries, which have significant reserves of metals.
Explain two reasons why it may be more beneficial for a country to specialise in the production of manufactured goods, rather than primary products.
Describe the difference between a regional trade agreement and a bilateral trade agreement.
Examine how developing countries, which rely on 'soft commodities' (e.g. sugar), have been affected by the rapid rise in metal prices on world markets.