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2.4 International trade and the global economy

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Question 70

A UK music retailer imports a musical instrument priced at 840 Canadian dollars. The exchange rate changes as shown.

Canadian dollars per pound
Before the change1.60
After the change1.75
a.

Calculate the change in the instrument's sterling cost to the retailer.

[3]
b.

Explain one likely effect of this change on the retailer.

[2]
Markscheme

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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