Please note that this question requires substantial research (see the assessment criteria below).
(a) Explain how GDP is measured in your country (you can choose any country/ Nepal or India or Australia recommended). Provide real life examples.
(b) Using your home country as a case study outline two main restrictions government applied to import. Using the data from your case study analyse and explain who would benefit directly and who would lose directly from such restrictions.
(c) Using your case study examine the position of protectionists. Explain whether you support their argument.
Additional marks
-Substantial research and analysis.
-Overall presentation of work, especially use of graphs, clear written expression.
-Appropriate use of referencing.
-Harward style referencing, proper Citation of the resources.
-At least 15 peer reviewed articles/journals/textbooks need to be referenced.
Assessment criteria
-Besides the textbook, you should also refer to a few other academic books, journal articles and relevant websites in answering these questions.
-Sources must be acknowledged and a list of references provided.
-Concepts must be defined accurately and completely.
-The assumptions upon which the analysis is based must be stated at the onset.
-Critical analysis should be provided by relating economic theory to real life economic examples and the case study
-Diagrams must be drawn properly, correctly labelled and the relations they depict explained.
-Answers must be complete, addressing the specific tasks nominated in the questions.
-Remember an extension is not a gift, it is a burden.