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4.1 Importance of international trade

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Question 11

A UK firm sells kettles. Imported kettles of similar quality are subject to a tariff that a free trade agreement removes.

Price informationAmount
Imported kettle price, including the tariff£30
Tariff on each imported kettle£4
UK firm's kettle price£29

Explain how the agreement may affect the UK firm.

[2]
Markscheme

4.1 Importance of international trade Questions

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

85 exam-style questions 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 has a worked solution and a mark scheme showing where the marks go.

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