CA Foundation · Paper 4 · 150 Questions · 3 Levels
Direct recall: meaning of international trade, benefits of trade, mercantilism, absolute advantage (Adam Smith), comparative advantage (Ricardo), H-O theory, trade policy, types of tariffs (specific, ad valorem, MFN, bound, applied), NTM basics, import quotas, VER, dumping, anti-dumping duties.
Applied: comparative advantage calculations, opportunity cost, H-O factor endowment logic, escalated tariff, TRQ, countervailing duties, effects of tariffs (consumer/producer surplus), NTM vs NTB distinction, SPS vs TBT, quota rents, export subsidies, new trade theory (Krugman), FTA developments.
ICAI exam-style: statement analysis, numerical problems on comparative advantage, trigger-price mechanisms, NTM categories deep-dive (price controls, financial measures, procurement policies, TRIM, rules of origin, safeguards, embargos), export-related measures, arguments for/against free trade, theory comparisons, India-specific examples.
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