2386768
Descripción
Mapa Mental por Beth Thornton, actualizado hace más de 1 año
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Creado por Beth Thornton
hace casi 10 años
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Understanding Economic Content
- Exchange rate is the price of buying a
foreign currency. It tells you how much of
a foreign currency you will get for every
UK pound or any other currency.
- Impact of a fall in exchange rate is good for british
firms as it means foreigners will buy more of our
goods than countries who would be charging more
due to the rise in exchange rate for their currecny.
- This means exports would be
increasing meaning more staff is
needed but it makes imports more
expensive so supply wil fall.
- This means exports would be
increasing meaning more staff is
needed but it makes imports more
expensive so supply wil fall.
- Impact of a fall in exchange rate is good for british
firms as it means foreigners will buy more of our
goods than countries who would be charging more
due to the rise in exchange rate for their currecny.
- Exports - Goods leaving the country.
Imports - Goods coming in to the contry.
- Commodities are the raw
materials such as copper,
oil, wood and cotton. They
are all used in the
production of other goods
that are commonly used.
- Businesses or Firms can
absorb or pass on
increases in the cost of
commodities or
production.
- SPICED is Strong Pound Imports Cheap Exports Dear
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