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2.4 International trade and the global economy

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Question 20

A horticultural nursery in the UK has ordered greenhouse equipment from a supplier in Switzerland for CHF 73,500. Its finance office is updating the sterling budget using the exchange rates below.

Exchange rateValue
Earlier rateCHF 1.50 per £1
Later rateCHF 1.40 per £1

Calculate the additional amount, in pounds, that the nursery will need to budget because of this exchange-rate change.

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2.4 International trade and the global economy Questions

  1. GCSE
  2. /Economics
  3. /2.4 International trade and the global economy

118 exam-style questions on AQA GCSE Economics 2.4 International trade and the global economy, covering 2.4.1a The importance of trade, 2.4.1b Advantages of trade and interdependence, 2.4.1c UK exports and imports, 2.4.2a How exchange rates are determined, 2.4.2b Effects of exchange rate changes, 2.4.3a Free-trade and its arguments, 2.4.3b Free-trade agreements such as the EU, 2.4.4a Features and growth of globalisation, 2.4.4b Benefits and drawbacks of globalisation, and 2.4.4c Moral, ethical and sustainability considerations. Each one has a worked solution and a mark scheme showing where the marks go.

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