Why does most of the worlds’ internationaltrade take place between similar developed economies?

International Trade
Paper details:

This coursework is basically a commentary of an article, using economics theory of international trade. I have uploaded the article that you should analyze in the commentary by directly referring to it and using quotations. The analysis should be based on the content of the part of the IB syllabus that I have uploaded. However, there might as well be other things that appear in the coursework which are not in that part of the syllabus that you could briefly define as long as they are part of the economics foundations. Finally, I have also uploaded the markscheme for this kind of assessments so that you can clearly see what to do, and a sample commentary of another article so that you can have a general idea about what this is all about.
Internal assessment criteria—SL and HL
Overview
There are five internal assessment criteria for each commentary.
Internal assessment

Criterion A Diagrams 3 marks
Criterion B Terminology 2 marks
Criterion C Application 2 marks
Criterion D Analysis 3 marks
Criterion E Evaluation 4 marks
Total 14 marks
There is one internal assessment criterion for the whole portfolio.
Each commentary is assessed individually for the first five assessment criteria (criteria A–E) and then criterion F is applied to the whole portfolio.
The maximum for the portfolio is 45 marks: (14 marks x 3 commentaries) + 3 marks = 42 + 3 marks. The assessment criteria are related to the assessment objectives.
• Criterion A: AO2 and AO4 ?
• Criterion B: AO1 ?
• Criterion C: AO2 ?
• Criterion D: AO2 ?
• Criterion E: AO3 ?
• Criterion F: AO4 ?Portfolio (SL/HL) Criterion A: Diagrams ?• This criterion assesses the extent to which the student is able to construct and use diagrams. ?
Criterion F Rubric requirements 3 marks
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 Relevant diagram(s) are included but not explained, or the explanations are incorrect.
2 Relevant, accurate and correctly labelled diagram(s) are included, with a limited explanation.
3 Relevant, accurate and correctly labelled diagram(s) are included, with a full explanation.
Economics guide 93

Internal assessment

Criterion B: Terminology
• This criterion assesses the extent to which the student uses appropriate economic terminology.
Criterion C: Application
• This criterion assesses the extent to which the student recognizes, understands and applies economic information in the context of the article.
Criterion D: Analysis
• This criterion assesses the extent to which the student can explain and develop appropriate economic theories and/or concepts in the context of the article.
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 Terminology relevant to the article is included in the commentary.
2 Terminology relevant to the article is used appropriately throughout the commentary.
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 Relevant economic concepts and/or theories are applied to the article.
2 Relevant economic concepts and/or theories are applied to the article appropriately throughout the commentary.
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 There is limited economic analysis relating to the article.
2 There is appropriate economic analysis relating to the article.
3 There is effective economic analysis relating to the article.
Criterion E: Evaluation
• This criterion assesses the extent to which the student synthesizes his or her analysis in order to make judgments that are supported by reasoned arguments.
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 Judgments are made that are unsupported, or supported, by incorrect reasoning.
2 Judgments are made that are supported by limited reasoning.
3 Judgments are made that are supported by appropriate reasoning.
4 Judgments are made that are supported by effective and balanced reasoning.
94
Economics guide

Internal assessment

Criterion F: Rubric requirements
• This criterion assesses the extent to which the student meets the five rubric requirements for the complete portfolio.
– Each commentary does not exceed 750 words. ?
– Each article is based on a different section of the syllabus. ?
– Each article is taken from a different and appropriate source. ?
– Each article was published no earlier than one year before the writing of the commentary. ?
– The summary portfolio coversheet, three commentary coversheets and the article for each commentary are included. ?
Level Descriptor
0 The work does not reach a standard described by the descriptors below.
1 Three rubric requirements are met.
2 Four rubric requirements are met.
3 All five rubric requirements are met.