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4 International trade and the global economy

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Question 26

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 International trade and the global economy Questions

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

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