Free vs Central Planning Economic System and Domestic vs International Trade Q1

Q.
a) Describe any two (2) criteria that differentiate the free economic system and central planning economic system. (10 marks)

b) Describe any five (5) difference between Domestic Trade and International Trade. (10 marks)

(20 marks, 2018 Q1)

A.

a) Free economic system vs Central planning economic system.

• 2013 Q1b
• 2015 Q1b

 

b) Differences between domestic trade and international trade.

2016 Q6

Ref:

Earlier posts.