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4.1 Importance of international trade

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Question 56

A UK manufacturer plans to make 2,400 commercial coffee machines. Each machine needs three pump valves. The supplier prices are:

SupplierPrice per pump valve
UK supplier£2.40
Overseas supplier£2.05
a.

Calculate the total amount the manufacturer would save by buying all of the pump valves from the overseas supplier rather than the UK supplier. Show your working.

[2]
b.

Explain one reason why the overseas supplier may be able to charge a lower price for each pump valve.

[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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