Differential Access To Market Consequences Flashcards
1
Q
What’s it hard for?
A
Countries with poor access to establish new industries due to high tariffs and being undercut
2
Q
What do LIC’s depend on?
A
Selling low value products which fluctuate in price resulting in slow economic growth
3
Q
What does high market access mean?
A
You can trade more and see economic growth
4
Q
High paid jobs?
A
More disposable income =higher standard of living
5
Q
Less market access?
A
Less money for education and healthcare so quality of life is lower
