Every piece of knowledge, every analysis chain and every evaluation point that the 54 Unit 6 Paper 2 essay questions in the bank (2020–2025) ask for. Tick an item only when you can explain it from memory, out loud or on paper, without looking.
清单条目使用英文，也就是考试作答所用的语言。标题、按钮和说明仍为中文。
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How to use this checklist
Cover the page and try each item out loud or on paper. Tick it only when you got it right without looking.
Items with a diagram: draw it yourself first, then open it to compare.
Use the 'Asked in' links to open the real questions that need an item, and write one of them.
Work on the items you cannot tick first. 'Hide ticked' shows only those.
Before a test, print the checklist and go through it again on paper.
9708/24/M/J/25(a) With the help of a formula, explain the causes of an improvement in the terms of trade in an economy and consider whether such an improvement can ever be harmful to an economy.[8]
9708/23/M/J/25(b) Assess whether government policy can influence an economy’s comparative advantage in a good or service.[12]
9708/22/F/M/25(b) Assess the extent to which the consequences of free trade are always positive for an economy.[12]
9708/24/O/N/25(b) Assess the extent to which the principle of comparative advantage should be the main factor to consider when countries decide whether to trade with each other.[12]
9708/21/O/N/24(a) Explain the potential advantages of free trade and consider whether such advantages are always greater than the potential disadvantages of free trade.[8]
9708/23/M/J/24a) Explain two possible causes of a change in the terms of trade in an economy and consider which of these causes is likely to be more important for low-income countries.[8]
9708/22/O/N/23b) Assess whether a rise or a fall in the terms of trade will benefit the macroeconomic performance of an open economy that is heavily dependent on international trade.[12]
9708/22/M/J/23(a) Two countries each produce two products and wish to trade with each other. Explain the difference between the principles of absolute advantage and comparative advantage and consider whether the principle of comparative advantage is always the more important influence when each country is deciding whether to trade with each other.[8]
9708/21/O/N/23(b) Assess whether the theories of absolute and comparative advantage are substantially undermined by their various limitations.[12]
9708/22/O/N/23(a) Explain the difference between the terms of trade and the balance of trade in goods and consider whether an economy should be more concerned about its terms of trade than its balance of trade in goods.[8]
9708/23/O/N/22a) Explain how a higher rate of inflation in an economy compared to its trading partners and a decline in the exchange rate will each affect the terms of trade in an economy.[8]
9708/22/O/N/22An economy adopts a freely floating exchange rate. b) Discuss the advantages and disadvantages that result from a rise in an economy’s terms of trade and consider whether a rise is likely to be of overall benefit to an economy.[12]
9708/22/O/N/21b) Discuss whether the principle of comparative advantage concludes that a movement to free trade will always result in an overall benefit for an economy.[12]
9708/23/M/J/21b) Discuss the view that the gains from tariff-free trade are greater for countries who are net importers than for countries who are net exporters.[12]
9708/22/O/N/20b) Discuss whether a rise in the terms of trade or a fall in the terms of trade is more likely to be of benefit for an economy.[12]
9708/23/M/J/20a) Explain why the theory of comparative advantage may not give a true account of the benefits of free trade.[8]
Two questions here ask whether protection is the best way to cut a current account deficit. The tools are analysed here; the chains that compare protection with other policies are in 6.5.
The 13 past-paper questions on this section
9708/21/M/J/25(b) Assess whether the potential benefits of free trade always outweigh the arguments for protectionism.[12]
9708/21/O/N/25(a) Explain two tools of protection used by a country when trading internationally and consider whether one is likely to have more of an impact on the country's economy than the other.[8]
9708/21/O/N/25(b) Assess whether all consumers, all producers and the government in a country will benefit equally from protectionism.[12]
9708/24/O/N/25(a) Using two tools of protection, explain what is meant by protectionism and consider the extent to which these two tools may benefit an economy.[8]
9708/23/O/N/24(b) Assess whether protectionism is always the best way of reducing a deficit on the current account of the balance of payments.[12]
9708/23/M/J/24(b) Assess whether free trade is always better than a policy of protectionism for a developing economy that wishes to trade internationally.[12]
9708/21/O/N/23(a) Explain the difference between an import tariff and an import quota and consider why a government would choose an import tariff rather than an import quota as a tool of protection in international trade.[8]
9708/21/M/J/23(b) Assess whether the arguments for protectionism in the context of international trade are always stronger than the arguments against.[12]
9708/22/M/J/23(b) Assess whether protectionism is the best way to correct a deficit in the current account of the balance of payments.[12]
9708/23/O/N/22Since 2018, China and the United States (US) have been imposing tariffs on trade with each other. (b) Discuss the view that some will benefit and some will lose but the overall impact of these tariffs will be negative.[12]
9708/21/M/J/22Protectionism can take different forms in different countries. (b) Discuss whether export subsidies are always a better method of protectionism than tariffs.[12]
9708/22/F/M/22(b) Discuss the advantages and disadvantages of protecting an industry such as steel and consider whether the protection will be of overall benefit to this economy.[12]
9708/23/M/J/20In April 2018, the United States (US) government threatened to impose tariffs of 25% on a wide range of imports from China including steel, technological products, medicines and household goods such as washing machines. In turn, China threatened to retaliate with the same proposed tariff on imports from the US of soya beans, cars and chemicals. (b) Discuss whether the US and China could both benefit from the imposition of tariffs on goods such as those identified.[12]
Two questions here ask which policy best reduces a deficit. The causes and consequences are here; the policy chains are in 6.5.
The 9 past-paper questions on this section
9708/22/M/J/25(b) Assess whether an improvement in the terms of trade or a surplus on the current account of the balance of payments is of more benefit to an economy.[12]
9708/22/O/N/25(a) Explain three components of the current account of the balance of payments and consider the extent to which a depreciation in the exchange rate will always lead to a surplus on the current account.[8]
9708/23/O/N/25(a) Explain two reasons why an economy may have a deficit on the current account of its balance of payments and consider whether its government is likely to be concerned about this deficit.[8]
9708/21/O/N/24(b) Assess whether an economy will always benefit from having a surplus on the current account of its balance of payments.[12]
9708/22/F/M/24b) Assess whether contractionary fiscal policy is likely to be the best way to reduce a current account deficit on the balance of payments.[12]
9708/23/O/N/23b) A country has a persistent deficit on the current account of its balance of payments. Assess the likely consequences for the domestic and external economy of this country.[12]
9708/21/O/N/22b) Discuss whether protectionist policies would be the most effective way to correct a current account deficit on the balance of payments in an economy.[12]
9708/23/M/J/22a) Explain why some countries consistently have a deficit on the current account of the balance of payments.[8]
9708/22/M/J/22An economy moves from a deficit to a surplus on the current account of the balance of payments. a) Explain what is meant by a surplus on the current account of the balance of payments and consider the possible impact on the level of employment and prices when there is a change from a deficit to a surplus current account balance in an economy.[8]
The Marshall–Lerner condition and the J-curve are A Level topics: the AS mark schemes reward them but do not expect them. What every answer here needs is the price elasticity of demand for exports and imports.
The 11 past-paper questions on this section
9708/24/M/J/25(b) Assess whether the depreciation of an exchange rate is always beneficial to an economy.[12]
9708/22/M/J/25(a) With the help of a diagram, explain two ways in which a fall in the balance of trade in goods may affect the value of a floating exchange rate and consider the extent to which a change in the relative rate of interest between two countries may have a greater impact on the exchange rate.[8]
9708/22/F/M/24(a) Explain what is meant by a depreciation of the exchange rate and consider whether a depreciation is likely to increase domestic real output.[8]
9708/22/F/M/23(a) With the help of a diagram, explain what is meant by an appreciation of a floating exchange rate and consider whether a country can only benefit from the appreciation of its currency.[8]
9708/21/M/J/23(a) With the help of a diagram(s), explain the likely causes of a depreciation of a floating exchange rate and consider whether such a depreciation is always beneficial to an economy.[8]
9708/22/O/N/22An economy adopts a freely floating exchange rate. (a) Explain how this economy’s exchange rate is likely to be affected when its inflation rate is much higher than inflation rates in its trading partners.[8]
9708/21/O/N/22(a) Explain, with the use of a diagram(s), two factors that could bring about a depreciation in the value of a country’s exchange rate in a freely floating exchange rate system.[8]
9708/21/M/J/22(a) Explain why a fixed exchange rate could cause difficulties for a country that has one.[8]
9708/21/O/N/21(b) Discuss whether expenditure-reducing policies are likely to reduce the current account deficit on the balance of payments for an economy with a floating exchange rate.[12]
9708/21/M/J/21(b) Discuss how likely it is that monetary policy would be successful in reducing inflation in an economy with a floating exchange rate.[12]
9708/21/M/J/20(b) Discuss whether an appreciation of a country’s foreign exchange rate is likely to cause both a rise in inflation and a decrease in employment in its economy.[12]
Questions on reducing a current account deficit are also set under 6.2, 6.3 and 6.4. The policy chains for all of them are here; the tools of protection themselves are in 6.2.
The 5 past-paper questions on this section
9708/22/O/N/25(b) Assess the extent to which the use of supply-side policy would be the best way to reduce a deficit on the current account of the balance of payments.[12]
9708/23/O/N/25(b) Assess whether it is better to use protectionist policies or contractionary policies to reduce a deficit on the current account of the balance of payments.[12]
9708/23/M/J/22Some countries consistently have a deficit on the current account of the balance of payments. b) Discuss the extent to which expenditure-switching policies and expenditure-reducing policies might be able to reduce such a deficit.[12]
9708/22/M/J/22Some countries consistently have a deficit on the current account of the balance of payments. b) Discuss whether expenditure-reducing or expenditure-switching policies are more likely to be of greater overall benefit if adopted to remove a persistent deficit on the current account of the balance of payments.[12]
9708/21/O/N/20b) Discuss whether supply-side policies are an effective way of correcting a deficit on an economy’s current account of the balance of payments.[12]
Model chains and evaluation points for each item are being added. Until then, check yourself against the chapter notes and the mark scheme for each question.
This is a free, unofficial Cambridge 9708 Economics revision resource and is not affiliated with Cambridge Assessment International Education.