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Table of Contents

  1. Topic pack - Development economics - introduction
  2. 4.1 Economic development (notes)
  3. 4.1 Economic development (questions)
  4. 4.2 Measuring Economic Development (notes)
  5. 4.2 Measuring development (questions)
  6. 4.3 The role of domestic factors in economic development (notes)
  7. 4.3 The role of domestic factors in economic development (questions)
  8. 4.4 The role of international trade (notes)
    1. Role of international trade - introduction
    2. Trade problems (LDCs)
    3. Problems - over-dependence on primary products
    4. Price volatility of primary products
    5. Consequences of price volatility
    6. Price increases can also be problematic!
    7. Price volatility case study - tomatoes
    8. Price volatility case study - copper
    9. Trade strategies for growth and development
    10. Import substitution
    11. Import substitution case study - sorghum
    12. Export promotion
    13. Export promotion case study - Thai toy industry
    14. Trade liberalization
    15. The role of the World Trade Organization
    16. Background information
    17. The Doha round
    18. Case study - trade sanctions
    19. Bilateral and regional preferential trade agreements
    20. Case study of a bilateral preferential trade agreement
    21. Case study of a multilateral preferential trade agreement
    22. Some background reading
    23. Diversification
    24. Case study - diversification
    25. Diversification in Malawi - video
    26. Some background reading
  9. 4.4 The role of international trade (questions)
  10. 4.5 The role of Foreign Direct Investment (FDI) (notes)
  11. 4.5 The role of foreign direct investment (questions)
  12. 4.6 The role of foreign aid and multilaterial development assistance (notes)
  13. 4.6 The role of foreign aid and multilateral development assistance (questions)
  14. 4.7 The role of international debt (notes)
  15. 4.7 The role of international debt (questions)
  16. 4.8 The balance between markets and intervention (notes)
  17. 4.8 The balance between markets and intervention (questions)
  18. Print View

Price volatility case study - copper

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The video clip highlights the problems facing the copper mining industry in Zambia from falling prices of copper and the country's overdependence on copper production.


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Reflect upon the following questions whilst you are watching the video. You might want to make some brief outline notes during and after the video.

  1. Explain the importance of copper to the economy of Zambia.
  2. Using supply and demand curves, explain why the price of copper has fallen.
  3. Describe the effect of a fall in the price of copper on copper production.
  4. Examine how the fall in the price of copper has affected the lives of copper miners.
  5. Describe how the Zambian government responded to the fall in copper prices.
  6. Copper wire is used to transmit electricity. Using supply and demand diagrams explain the impact of improved glass fibre technology, and other materials for conducting electricity, on the market for copper.