If the pound depreciates against the dollar, UK exports to the USA become:
From Paper 2: How the economy works
91 mark
A tariff is:
From Paper 2: How the economy works
143 marks
Explain one benefit of free trade to UK consumers.
From Paper 2: How the economy works
16.12 marks
Extract D (data are illustrative, written for this paper): A UK car manufacturer exports 60% of its cars, mainly to the EU and the USA. In one year the pound fell from $1.40 to $1.20. The firm imports many of its parts. The UK government is negotiating a free trade agreement, but some UK farmers fear competition from cheaper imported food.
A car is priced at £28,000. Calculate its price in dollars before and after the change in the exchange rate.
From Paper 2: How the economy works
16.22 marks
Define 'globalisation'.
From Paper 2: How the economy works
16.33 marks
Explain one disadvantage to the car manufacturer of the fall in the value of the pound.
From Paper 2: How the economy works
16.44 marks
Explain why countries specialise and trade.
From Paper 2: How the economy works
16.54 marks
Explain one reason why UK farmers might want protection from imports.
From Paper 2: How the economy works
16.66 marks
Analyse the effects of a lower pound on the UK's balance of payments current account.
From Paper 2: How the economy works
16.79 marks
Evaluate whether a free trade agreement with another country would benefit the UK economy.
Score 0 / 35 · 0 of 10 marked
This paper is written by Plasmo in the style of the AQA GCSE Economics exam. It is not a past paper and is not produced or endorsed by the exam board.
International trade and the global economy Exam Questions: AQA GCSE Economics | Plasmo