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2. What is an Intrest Rate

  • The cost of borrowing
  • An extra payment from family
  • The percentage reward or payment over a period of time that is given to savers on savings or paid by borrowers on loans.
  • The price of buying foreign currency. It tells UK people and businesses how much foreign currency they get for every pound, or how many pounds thay have to give up to acquire foreign currency

3. What is an Export

  • Goods and services bought from America
  • Goods and services sold abroad
  • Goods and services sold to America
  • Goods and services bought from abroad

4. What is an Import

  • Goods and services bought from abroad
  • Goods and services sold abroad
  • Goods and services bought from America
  • Goods and services sold to America

5. What is an Exchange Rate

  • An extra interest rate
  • The percentage reward or payment over a period of time that is given to savers on savings or paid by borrowers on loans.
  • An extra payment from family
  • The price of buying foreign currency. It tells UK people and businesses how much foreign currency they get for every pound, or how many pounds thay have to give up to acquire foreign currency
  • The cost of borrowing

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