What this practice covers
These questions are drawn from past IB Economics papers and filtered to types of trade protection. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on types of trade protection, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Confusing a quota (a quantity limit) with a tariff (a tax), and so mislabelling who receives the revenue. A tariff raises government revenue; a quota transfers that area to whoever holds the import licence.
- Omitting the two welfare-loss triangles when analysing a tariff, which is where the efficiency argument lives.
- Treating a subsidy to domestic producers as a tariff. It lowers domestic cost rather than raising import price, so the domestic price is unchanged and consumers are not directly harmed.
- Forgetting administrative barriers and voluntary export restraints, which are on the syllabus and are the forms most used in practice.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Types of Trade Protection revision notes.