A free trade agreement removed tariffs on electric fans traded between the UK and a group of partner countries. The table shows changes in the market one year after the agreement.
| Measure | Before the agreement | After the agreement |
|---|---|---|
| Average UK retail price of an electric fan | £46 | £39 |
| UK manufacturers' sales in the UK | £52 million | £39 million |
| UK manufacturers' sales to the partner countries | £18 million | £35 million |
Using the data, explain one effect of the free trade agreement on consumers and two effects on UK producers.
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.