4.1.3

Question 1

what are patterns of trade

Answer 1

a country’s pattern of trade refers to the mix of goods and services that it imports and exports in international trade

Question 2

what are the factors infleuncing pattern of trade?

Answer 2

• comparative advantage
• impact of emerging economies
• growth intrdae blocks and bilateral trading agreements
• changes in relative exchange rates

Question 3

explain the impact of emerging economies on patterns of trade

india, china, russia,brazil

Answer 3

• increasing share of world exports as become more integrated into the global trading system and are increasingly important
• changing trade patterns: For example, China has become a major exporter of manufactured goods, particularly electronics and machinery, and has displaced other countries in these sectors.
• **growing importance as importers **

Question 4

how does comparative advanatge infleunce pattern of trade?

Answer 4

countries are more likley to import from countries that hold the comparative advanage in producing that good, as they have specialised and are providing it at low cost

Question 5

how does trade blocs infleunce patterns of trade?

Answer 5

countries are more likley to trade with countries from within the trade bloc as there is a lack of protectionsit measures which means that it may be more price competitive

Question 6

how does changes in exchnage rates infleunce pattern of trade?

Answer 6

infleuncies pric eof imports and exports so it may be more cost effective to trade with those specfic countries