Globalisation (AQA GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does the exchange rate show?
What does the exchange rate show?
How much one currency is worth vs another
What are imports?
What are imports?
Goods & services bought from other countries
When a currency appreciates, what happens to export prices for foreign customers?
When a currency appreciates, what happens to export prices for foreign customers?
They become more expensive
How does currency appreciation affect imported goods for consumers?
How does currency appreciation affect imported goods for consumers?
They become cheaper to buy
What happens to raw material costs when a currency appreciates for importing businesses?
What happens to raw material costs when a currency appreciates for importing businesses?
Costs reduce significantly
What typically happens to export sales when a currency depreciates?
What typically happens to export sales when a currency depreciates?
Sales increase overseas
How does currency depreciation affect consumers buying imported goods?
How does currency depreciation affect consumers buying imported goods?
Goods become more expensive
What happens to production costs when currency depreciates for businesses importing raw materials?
What happens to production costs when currency depreciates for businesses importing raw materials?
Costs increase
Which type of currency do exporters generally prefer?
Which type of currency do exporters generally prefer?
A weaker currency
Which type of currency do importers generally prefer?
Which type of currency do importers generally prefer?
A stronger currency
What has happened to the pound sterling since Brexit?
What has happened to the pound sterling since Brexit?
It has lost value
By how much can exchange rate volatility reduce international trade?
By how much can exchange rate volatility reduce international trade?
Up to 15%