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4 International trade and the global economy

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Question 123

A UK traveller books a guided cycling holiday in France. The price is fixed in euros, and when the holiday is booked it is equivalent to £2,200. The exchange rate changes before the bill is paid.

DateExchange rate
Holiday booked£1 = €1.20
Bill paid£1 = €1.10

Calculate the increase in the sterling cost of the holiday between the two dates. Show your working.

[3]
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4 International trade and the global economy Questions

  1. GCSE
  2. /Economics
  3. /4 International trade and the global economy

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