Net exports Flashcards
1
Q
How do you work out net exports
A
Exports-imports
2
Q
What factors affect net exports
A
Price level
Inflation
Exchange rates
Product quality
Quotas
Affordability
Tariffs
3
Q
In the case of net exports,who are the main trading partners
A
Other countries
4
Q
What factors that affect net exports also affect product and price competitiveness
A
Exchange rates
Product quality
Inflation
5
Q
High inflation rates in the UK is likely to cause a decrease in net exports unless
A
Your product is of high quality and there are no other alternatives and if the buying country has a higher inflation rate.
6
Q
Whose state of economy affects imports
A
Our state of economy
7
Q
Whose state of economy affects exports
A
The state of economy of other countries
