Edexcel A Level Economics A 2021 Assessment Material

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sarahlmx
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Can someone please help me with this question from the Theme 4 published material -
a) Nigeria is considering joining the African Continental Free Trade Agreement. Assess policies the Nigerian government could use in response to the concerns of the country’s ‘manufacturers and trade unions’ (Extract B paragraph 3) if they join this trading bloc. (10)
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maxjones18
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(Original post by sarahlmx)
Can someone please help me with this question from the Theme 4 published material -
a) Nigeria is considering joining the African Continental Free Trade Agreement. Assess policies the Nigerian government could use in response to the concerns of the country’s ‘manufacturers and trade unions’ (Extract B paragraph 3) if they join this trading bloc. (10)
Id say first paragraph talk about investment in education for p1 to increase skills of workforce making them more productive/efficient. Then eval with that there is a time lag with education and it s more of a long term investment and might not initially fix the productivity of the domestic workforce.
Then for P2 id talk about subsidising exporting firms/ manufacturers to make them more competitive. Will lead to fall in prices etc incetivising domestic consumers not to import. Also talk about animal spirits and could lead to more investment in these industries.
Then eval with to fund this gov spending would need to increase which could see things like income tax etc grow to fund these subsidies. This would lead to a fall in disposable income which could actually discourage consumption.
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