A2 Economics- Competition

Basic things to know for competitiveness

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  • Created by: Preeya
  • Created on: 21-01-12 20:15

International Competitiveness

The degree to which a firm succeeds in selling its good when there is competition in the market place 

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Why do some firms succeed in competition

low price due to lower labour, tax costs etc..

Design

quality

reliability

after sales service

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Global competitiveness index

Balance of Payments current account / % share of world trade

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Non-price factors

Unit Labour costs

GDP per worker (Productivity)

Relative Export & Import Prices 

GDP Per worker per Hour worked

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Real exchange rate

RPI/Overseas average price index * effective exchange rate

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