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15 marker - Explain the possible reasons for changes in the pattern of trade between the UK and the rest of the world $3.89
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Essay

15 marker - Explain the possible reasons for changes in the pattern of trade between the UK and the rest of the world

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  • Course
  • Macro economics
  • Institution
  • AQA

Economics Paper 2, 15/15 essay on the reasons for changes in the patterns of trade between the UK and the rest of the world

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Document information

  • June 19, 2022
  • 2
  • 2021/2022
  • Essay
  • Unknown
  • A+

Subjects

  • trade
  • international trade
  • 15 marks
  • comparative advantage
  • absolute advantage
  • protectionism
  • tariffs
  • free trade
  • emerging economies

Written for

  • A/AS Level
  • AQA
  • Economics
  • Macro economics
All documents for this subject (5)

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By: rosshanirajkamal • 9 months ago

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By: mervyna13 • 10 months ago

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Content preview

Explain thepossible reasons for changes in the
pattern of trade between UK and the
rest of the world 15

Thepatternof trade is the conposition of a country's imports
and exports and the vote of its trade with the rest of the
world In thepast years it has slightly changed
been in the UK

for example balance ofpayments deficit was increasedhow 12,6 burn
1991 to f38bu in 2018 due to factors
many both internal and external

pep
Sd

Netwelfareloss
K I its
SwsSwttarr

I a
Sw




sis S D Potty
Onepossible reason for the changedtradepattern between the UK and
the rest of the world is hard Brexit leading to tariffs a trade with
increasedthe world
price from Wp to
the EU As
my diagon shows this
Wp Which means that domestic conswere are less willing andable to
purchase theproduct and so durandcontracts from D to Da even though
the supply expands as higherprice acts as an incentive toproduce more
In essence this causes the level of imports to fall for exauplegoo.de
imports from Germany decreasedby 11.7bu 30,54 in thepasttwo
years

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