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2.4 International trade and the global economy

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Question 57

A UK music shop imports an instrument priced at $480. The exchange rates are shown below.

TimeExchange rate
Earlier£1 = $1.20
Later£1 = $1.25

Calculate how much less, in pounds, the instrument costs the shop at the later rate than at the earlier rate.

[3]
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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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