1.With help of a diagram, explain the impact of decrease in 1 product only. Please provide example (products etc as assumptions) to explain the impact.

2.By providing an example and with the help of a diagram, explain the impact of start allowing free labor migration between 2 countries.

3.With the help of a diagram, explain the impact of import biased growth on the welfare of a country?

4.With the help of a diagram, explain the impact of export biased growth on the welfare of a country?

5.With the help of a diagram, explain the impact of export subsidy on terms of trade and welfare of a country? Please provide example to explain your answer.

6.With the help of a diagram, explain the impact of import tariff on terms of trade and welfare of a country? Please provide example to explain your answer.

7.External economies of scale may exist because of certain reasons. Explain the reasons for External economies of scale to exist

8.Is external economies of scale a guarantee for trading partners to buy your country's product. Why? Explain.

9.Give 10 examples of external economies that exists in different countries of the world (concentration of production for certain industries).