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Multinationals and International trade
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Give two examples of invisible trade
Trade of cleaning services and delivery services
Give two examples of visible trade
Trade of cars and electronics
The exchange rate in London is £1 = €1.14 The exchange rate in Paris is €1 = £0.86 Elaine wants to change some pounds into euros. In which of these cities would Elaine get the most euros?
In London
In the USA Rosie sees some jeans costing $67 In London the same make of jeans costs ÂŁ47.50 The exchange rate is still ÂŁ1 = $1.34 Work out the difference between the cost of the jeans in the USA and in London. Give your answer in pounds
2.5 pounds
Rosie and Jim are going on holiday to the USA. Jim changes ÂŁ350 into dollars ($). The exchange rate is ÂŁ1 = $1.34 Work out how many dollars ($) Jim gets.
469 dollars
Tania went to Italy. She changed £325 into euros (€). The exchange rate was £1 = €1.68. Change £325 into euros (€).
546 euros
Jamie goes on holiday to Florida. The exchange rate is ÂŁ1 = 1.70 dollars. He changes ÂŁ900 into dollars. How many dollars should he get?
1530 pounds
What are imports?
Goods and services brought from overseas
What are exports?
Goods and services sold overseas
How does rise in exchange rates influence imports?
Demand for imports increases
How does rise in exchange rates influence exports?
Demand for exports decreases
How does fall in exchange rates influence imports?
Demand for imports decreases
How does fall in exchange rates influence exports?
Demand for exports increases
What is exchange rate?
Value of one currency in terms of another currency
What is surplus?
Amount of something that is more than needed or used
What is balance of trade?
Difference between visible exports and visible imports
What is invisible trade?
Trade in services
What is visible trade?
Trade of physical goods
What is international trade?
Trade of goods between different countries
State two drawbacks of multinationals to a country/economy
Environmental damage, lack of accountability
State two benefits of multinationals to a country/economy
Increase in income, increase in tax revenue
State two benefits of becoming a multinational company
Larger customer base, higher recognition
What are economies of scale?
Fall in average prices with an increase in output
Define a multinational company
A company that operates in at least two different countries
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