Using the data in Extract E, calculate the percentage of the world’s top 25 exporting economies that have costs of production above those of the United Kingdom in 2014 - Edexcel - A-Level Business - Question 2 - 2018 - Paper 1

From Extract E, it can be observed that 12 out of the top 25 economies have manufacturing costs higher than those of the United Kingdom.

The percentage of countries above the UK can be calculated using the formula:

$\text{Percentage} = \left( \frac{\text{Number of countries above the UK}}{\text{Total number of countries}} \right) \times 100$

Substituting in the values:

$\text{Percentage} = \left( \frac{12}{25} \right) \times 100 = 48\%$