OCR•GCSE•Economics
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International Trade and the Global Economy
Trade, exchange rates, globalisation, and economic development
Practice 61 subtopics in International Trade and the Global Economy. All questions match the OCR GCSE specification.
About International Trade and the Global Economy
International Trade and the Global Economy is a key topic in the OCR GCSE Economicsspecification. This topic covers trade, exchange rates, globalisation, and economic development.
Master all 61 subtopics below with unlimited AI-generated questions. Each subtopic page includes sample questions and the ability to generate unlimited practice questions with detailed solutions.
All Subtopics (61)
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Practice any subtopic from International Trade and the Global Economy
Reasons for international tradeSpecialisationComparative advantageAccess to wider marketsGreater choiceLower pricesImportsExportsVisible tradeInvisible tradeCurrent accountTrade in goodsTrade in servicesCurrent account deficitCurrent account surplusCauses of current account deficitConsequences of current account deficitDefinition of exchange rateFloating exchange rateFixed exchange rateCurrency appreciationCurrency depreciationFactors affecting exchange ratesInterest ratesInflationTrade balanceSpeculationEffects of exchange rate changesOn exportsOn importsOn inflationOn economic growthFree tradeBenefits of free tradeProtectionismTariffsQuotasSubsidies to domestic producersNon-tariff barriersArguments for protectionismInfant industry argumentProtecting jobsNational securityArguments against protectionismDefinition of globalisationCauses of globalisationImproved transportImproved communicationReduced trade barriersTransnational corporations (TNCs)Benefits of globalisationCosts of globalisationDefinition of economic developmentDifference from economic growthMeasures of developmentHuman Development Index (HDI)Factors affecting developmentEducationHealthcareInfrastructurePolitical stability
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