< Back Assignment details Business in the Globalised Economy (2210)
Ghana’s parliament is debating how to undertake ISI. The debate centres on whether they should impose tariffs on imports or use quotas. Which system is better for consumers? (use a diagram to explain yourself).
Marcia Anthony, the Trade Minister, argues that the country should not adopt ISI. She asks you to help her explain the benefits of trade with a diagram. Please draw this diagram and explain its intuition.
The Minister for Labour, John Ring, argues that closing the country’s borders to international trade will create employment. Use a diagram to explain this scenario.
Kelly Stuart, an RMIT-trained economist at the Ministry of Labour argues that the policy change will ultimately hurt consumers. Use a diagram to explain her thinking.