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Economics IGCSEPDF 115
118 pagesrevision 46932
PDF 115
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Policies to achieve balance of payments stability
Exchange rate adjustment (devaluation/realignment).
Trade policy (promote exports, restrict non-essential imports).
Supply-side improvements (increase competitiveness, productivity).
Fiscal and monetary policy to influence demand and inflation.
Summary Table
Topic
Key Concepts
Significance
Specialisation &
Trade
Comparative advantage, terms of
trade, gains from trade
Helps countries like Pakistan
maximise production, trade
efficiently
Globalisation &
Trade Policy
MNCs, free trade, protection,
tariffs, quotas
Impacts local industries,
employment, trade
relationships