The UK feeds the world – Trade revision
Recommend on Google+
Don’t think less of me, but I got this article from the Sun newspaper which shows exports of British food and non-alcoholic drinks soared by 20% to a record £9.3bn last year. Sales of cheddar are up 20% to £8.9 million in the US whilst Japan has a high demand for our jam, tea and shortbread. Another article from the Times website shows we are even selling cakes to the French, with the UK cake and pudding manufacturer Gü building up a market worth £5 million in less than two years. As usual I have written some GCSE style questions to go along with this for revision.
1. Explain two factors that could affect demand for UK goods abroad. (4 marks)
2. Explain what is meant by a current account deficit. (2 marks)
3. Discuss the costs and benefits of weakening the pound to improve the UK’s current account deficit. (4 marks)
blog comments powered by Disqus
Tags
activity, advertising, affordability, alistair darling, anti-competitive behaviour, anti-dumping, apple, appreciation, aqa gcse economics, articles, asia, balance of payments, balance of trade, bank of england, banks, basic economic problem, basket of goods, beat the teacher, benefits, bidet, birthrate, borrowing, budget, budget deficit, budget surplus, business growth, business objectives, capacity, capital, car industry, car manufacturing, cash cow, china, chocolate, christmas trees, class task, cocoa, competition, competition commission, competition in action, competitive markets, complements, conditions of supply, confidence, congestion, conspicuous consumption, construction, consumer confidence, consumer spending, consumers, costs, costs of production, costs, revenues and profits, cpi, credit crunch, cross price elasticity of demand, currency, data, data response, debt, deficit, delicious data, demand, demand and supply, demand and supply in action, demand for labour, demerit good, demerit goods, depreciation, derived demand, diagram, diagrams, diseconomies of scale, dollar, double dip, double-dip, downturn, easyjet, economic growth, economic gw, economic policies, economics, economies of scale, economy, elasticity, elasticity of supply, employment, end of term activity, enterprise, eu, euro, eurozone, exam advice, exam help, exam practice, exam style questions, exam technique, excess demand, exchange rate, exchange rates,All tags for the GCSE Economics Blog
