Globalization Free Trade and Protection

The resource is made for IGCSE Economics.
At the end of the lesson, students should be able to :Define Globalization. Identify the role of multinational companies MNCs and the costs and benefits to their host and home countries. Identify and explain the benefits of free trade - the benefits for consumers, producers and the economy in a variety of countries. Methods of protection - tariffs, import quotas, subsidies and embargoes. Reasons for protection - Including infant industry, declining industry, strategic industry and avoidance of dumping. Consequences of protection - Effectiveness of protection and its impact on the home country and its trading partners.
‘Debate topic.’ ‘Class Activities’ with ‘Answers.’