Grade 10 Economics Revision
Grade 10 Economics Revision
Grade 10 Economics Revision
Revision
There is sometimes opposition to the removal of a tariff. Analyse how this might be justified.
However, in 1999 the Moroccan fisheries minister said that the agreement would not be renewed because of the reduction in the fish stocks. There will be no suicide agreement with the EU he said. Morocco expects the EU not only to decrease its fishing effort, but also to encourage Morocco s fishing-related sectors such as ports, shipyards, ship maintenance, and sea-food processing industries. Morocco s fishermen are benefiting from the end of the agreement. Fish catches are expected to rise to 1.5 million tons in 2003 compared with 700 000 tons in 2001. In the first year after the agreement ended, Morocco exported nearly 250 000 tons of fish, earning the country $633 million. The impact of the departure of the EU fleet is also very visible in the local markets where abundant fish are put for sale at very reasonable prices. Everybody can now buy fish, even the species that were considered luxuries, and the local fish sellers are rejoicing.
(a) (i) Identify two characteristics of a developing country. [2] (ii) What evidence is there in the article to suggest that Morocco has a large fishing sector? [3]
(c) (i) Explain with the help of a demand and supply diagram what has happened in the local Moroccan fish markets since the EU stopped fishing. [5] (ii) How would you assess the extent to which these changes have benefited the local fishermen?[6]
International Aspects
A government decreased the tax on all goods imported into the country. What is the most likely result of this? A a decrease in domestic production B an increase in economic growth C an increase in exports D an improvement in the balance of trade in goods