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4.1 International economics

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Question 4

Unit labour costs for selected Latin American countries, 2022 (base year 2015 = 100)

CountryUnit labour costs
Mexico112
Peru105
Colombia126
Chile109

Explain one likely reason for Colombia's unit labour costs rising faster than in other Latin American countries.

[2]
Markscheme

4.1 International economics Questions

  1. A Level
  2. /Economics
  3. /4.1 International economics

103 exam-style questions on Edexcel A A Level Economics 4.1 International economics, covering 4.1.1 Globalisation, 4.1.2 Specialisation and trade, 4.1.3 Pattern of trade, 4.1.4 Terms of trade, 4.1.5 Trading blocs and the World Trade Organisation (WTO), 4.1.6 Restrictions on free trade, 4.1.7 Balance of payments, 4.1.8 Exchange rates, and 4.1.9 International competitiveness. Each one has a worked solution and a mark scheme showing where the marks go.

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