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4.1 Importance of international trade
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Trade, imports, and exports

Trade, imports, and exports

Flow diagram of the UK at the centre with imports entering, exports leaving, trade barriers labelled tariffs, quotas, customs checks and product rules, and a free trade agreement reducing barriers for consumers and producers

International trade means buying and selling goods and services between countries. Countries trade because they do not all have the same climate, resources, skills, technology, or costs.

4.1 Importance of international trade Lesson

  1. GCSE
  2. /Economics
  3. /4.1 Importance of international trade

Step-by-step lessons on OCR GCSE Economics 4.1 Importance of international trade, covering 4.1.1 Why countries import and export and 4.1.2 Free trade agreements. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons