How does fall in exchange rates influence imports?
Demand for imports decreases
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15
The exchange rate in London is ÂĢ1 = âŽ1.14 The exchange rate in Paris is âŽ1 = ÂĢ0.86 Elaine wants to change some pounds into euros. In which of these cities would Elaine get the most euros?
In London
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15
How does rise in exchange rates influence imports?
Demand for imports increases
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15
What is balance of trade?
Difference between visible exports and visible imports
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15
What is international trade?
Trade of goods between different countries
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trap
No points!
Oops!
shark
Other team loses 20 points!
Okay!
gift
Win 10 points!
Okay!
banana
Go to last place!
Oops!
15
What are economies of scale?
Fall in average prices with an increase in output
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15
State two benefits of becoming a multinational company
Larger customer base, higher recognition
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thief
Give points!
5
10
15
20
25
rocket
Go to first place!
Okay!
shark
Other team loses 10 points!
Okay!
thief
Give points!
5
10
15
20
25
15
Define a multinational company
A company that operates in at least two different countries
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15
In the USA Rosie sees some jeans costing $67 In London the same make of jeans costs ÂĢ47.50 The exchange rate is still ÂĢ1 = $1.34 Work out the difference between the cost of the jeans in the USA and in London. Give your answer in pounds
2.5 pounds
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15
Jamie goes on holiday to Florida. The exchange rate is ÂĢ1 = 1.70 dollars. He changes ÂĢ900 into dollars. How many dollars should he get?
1530 pounds
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15
What is exchange rate?
Value of one currency in terms of another currency
