A UK furniture producer uses 2,500 timber planks each year. A UK supplier charges £18 per plank, while an overseas supplier charges £14 per plank.
Calculate how much the producer would save in a year by buying all its timber planks from the overseas supplier.
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.