Question: Hi, could you help me solve question 4 using the background info provided below. Marking Criteria: Answer focuses on gains/losses of consumers and producers. and
Hi, could you help me solve question 4 using the background info provided below.
Marking Criteria: Answer focuses on gains/losses of consumers and producers. and discusses whether the representative is right or wrong.


Background Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursuit a policy of import substitution industrialization (ISI). You are given a brief about Ghana highlighting the following points: About half ot Ghana's population depends on agriculture, but Ghana still imports some of its food. - The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. QUESTION BA A representative from Ghana's agricultural organisation is very much in favour of closing borders. He argues that consumers and producers will benefit from this. Is he right? Who would benefit most, are there any losers from the policy
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
