ECS3702 International Trade (ECS3702)

Question 1a Briefly Explain the Following terms (a) Absolute Advantage Absolute advantage is the ability of a country to produce a greater quantity of a good or service with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser quantity of inputs, than another entity that produces the same good or service. (b) Factor Intensity The relative importance of one factor versus others in production in an industry, usu...

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CHAPTER ONE WORLD TRADE AND THE NATIONAL ECONOMY INTERNATIONAL ECONOMICS - A DEFINITION International economics is concerned with: "... the exchange of goods, services, factors of production and capital across national boundaries". Module ECS302 is concerned with the flow of goods, services, labour and direct foreign investment (DFI) between countries. On the other hand, module ECS303 examines the exchange of financial assets and liabilities, and the monetary aspects of interna...

ECS3702 OCTOBER/ NOVEMBER EXAM PACK 2022/2023 1 | Question 1 An appreciation of the rand against the US dollar, will result in increased South African imports from the US, this is because fewer Rands can now purchase more US dollars, implying that South Africans now find it cheaper to buy US goods. Question 2 One of the possible effects of a recession in South Africa, on its trade with SADC member states is, widening of South Africa’s trade deficit, which implies that South Africa is...

ECS3702 EXAM PACK AND SUMMARY 2022/2023 lOMoARcPSD| Question 1a Briefly Explain the Following terms (a) Absolute Advantage Absolute advantage is the ability of a country to produce a greater quantity of a good or service with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser quantity of inputs, than another entity that produces the same good or service. (b) Factor Intensity The relative importance of one ...

ECS3702 EXAM PACK 2022 ECS3702 EXAM PACK 2022

ECS3702 Assignment 2 Semester 2 2022 ECS3702 Assignment 2 Semester 2 2022

ECS3702-International Trade EXAM PACK 2021. Paper November 2021 Question 1 An appreciation of the rand against the US dollar, will result in increased South African imports from the US, this is because fewer Rands can now purchase more US dollars, implying that South Africans now find it cheaper to buy US goods. Question 2 One of the possible effects of a recession in South Africa, on its trade with SADC member states is, widening of South Africa’s trade deficit, which implies that Sout...

ECS3702 - International Trade SUMMARISED STUDY NOTES 2022. CHAPTER ONE WORLD TRADE AND THE NATIONAL ECONOMY International Economics It is concerned with the exchange of goods, services, factors of production and capital across national boundaries. International Trade The reasons for and the benefits/gains from international trade are no different from those associated with domestic transactions - as with domestic transactions, international transactions offer the benefits of specialisati...

ECS3702 EXAM PACK 2021. This is a comp0lete and an all-inclusive guide to ECS3702 - International Trade An appreciation of the rand against the US dollar, will result in increased South African imports from the US, this is because fewer Rands can now purchase more US dollars, implying that South Africans now find it cheaper to buy US goods. Question 2 One of the possible effects of a recession in South Africa, on its trade with SADC member states is, widening of South Africa’s trade def...