Member countries of a single market agree that travel insurers based in any member country can sell policies online to customers throughout the market. Country R joins the single market.
The table shows changes in Country R.
| Measure | Before joining | After joining |
|---|---|---|
| Total number of travel insurance providers | 14 | 23 |
| Average annual premium | £180 | £150 |
| Customers rating the service as good | 62% | 76% |
| Number of domestic travel insurance providers | 14 | 11 |
Using the data, explain how joining the single market may have affected customers and domestic travel insurers in Country R.
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.