1. What does trade abroad mean?
- To import and export things such as raw materials.
- Increase in rate of interest
- Decline in economic activity
- Someone who has interest in business
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Other questions in this quiz
2. 'how much money has to be given up of one currency to buy another currency' is the definition of...
- Interest rates
- Exchange rates
3. What is an effect of the rise in the value of pound?
- Decrease import to UK
- Qualities such as leadership are shown by entrepreneurs
- UK companies buying from abroad will find prices cheaper.
- Export sales rise
4. What does export lead to?
- Import to UK likely to decrease
- Increase in interest rates
- Money flowing into UK
- Money flowing out UK
5. What is an effect of the fall in the value of pound?
- Leads to increased costs if imports are of raw material used in production
- Rise in exchange rate
- Fall in export sales
- Foreign buyers give up more euro to get the same amount of pounds
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