Short answer questions
Question 1
Identify the economic problems faced by developing countries when their economies are dependent on the export of primary products.
Question 2
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.
Question 3
Explain two reasons why it may be more beneficial for a country to specialise in the production of manufactured goods, rather than primary products.
Question 4
Describe the difference between a regional trade agreement and a bilateral trade agreement.
Question 5
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.