Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains exam questions for this spec point. [A Level Economics Edexcel A, Exam Questions]
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Question 1
In 2018, the International Monetary Fund (IMF) lent Argentina $57 billion as part of a bailout package to help prevent the
country’s government defaulting on its debts. This financial crisis also caused significant capital flight out of Argentina’s
economy.
(Source adapted from: https://www.ft.com/content/737b48bc‑c1c9‑11e8‑95b1‑d36dfef1b89a)
Explain the role of the IMF in providing financial assistance to countries such as Argentina.
[4 marks]
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Question 2a
Trade and Development Issues in Africa
Figure 1: The Fairtrade scheme in the cocoa industry. How the additional revenue is spent by cocoa farmers.
Extract A
Cheap cocoa is costing farmers dear
The median annual income of cocoa farmers in the west African country, Ivory Coast, is just US$2 600. Research suggests
that an annual income of US$6 133 is needed for this country’s farmers to have a decent, living income. This situation is even
worse for farmers who are not part of a Fairtrade scheme.
World cocoa prices fell by more than a third in 2017. Cocoa farmers have to accept all the risk from price volatility, putting a
significant strain on their fragile incomes. On the other hand, cocoa processors and chocolate manufacturers are able to
adapt or even make high profit and consumers continue to enjoy their chocolate.
This is still happening despite considerable investment in agriculture to build a sustainable cocoa sector. The focus has been
on raising productivity and diversifying crops. The average cocoa farm in the Ivory Coast produces only around half of the
output that could be achieved with training and resources such as fertilisers, equipment and replanting. If farmers diversify
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