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Removal of Import Quotas and its Impact on the Economy


Analyse the impact on an economy of the removal of import quotas imposed by other countries.


International Trade and Exchange Rates

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I. 🍃Introduction
- Brief explanation of the topic

II. Advantages of increasing exports
- Improving the current account of the balance of payments
- Extra revenue earned could be spent on imports, increasing variety/choice
- Allows country to specialise more, making better use of resources

III. Effects on the economy
- Rising total (aggregate) demand
- Could increase the demand for labour, reducing unemployment
- Causing economic growth

IV. Disadvantages of increasing exports
- Higher demand could cause inflation (demand-pull)
- Reducing purchasing power

V. 👉Conclusion
- Summary of the advantages and disadvantages of increasing exports
- Final thoughts on the topic.

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