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1.What are some criticisms to the potential effects of trade liberalization on developing countries? (1 mark) Relate this to the idea of fair trade. (1.5

1.What are some criticisms to the potential effects of trade liberalization on developing countries? (1 mark) Relate this to the idea of fair trade. (1.5 marks)

2.Explain the concept of terms of trade. (1.5 marks)

3.What does the Prebisch-Singer hypothesis state? (1 mark)

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