International Trade And Access To Markets

Question 1

Why do developed countries have greater access to markets

Answer 1

higher tariffs on goods imported= harder for LDCs to access market
Can invest to avoid high tariffs by opening factories in LICS

Question 2

Why do LICS have less access to markets?

Answer 2

LICS rely on loans that depend on removal of trade barriers

Trade blocs usually contain high tariffs and LICs have to pay these high tariffs= disadvantage