International trade
What International trade means in Economics GCSE, as defined for AQA, Pearson Edexcel.
Definitions of International trade
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Reference: AQA
Countries trade to access goods they cannot produce domestically, benefit from lower costs, and increase consumer choice.
The flows of exports from, and imports to, the UK economy, on which the UK economy relies heavily.
The exchange of goods and services with other nations, in which the UK is a major participant.
Encouraged by the reduction of trade barriers by governments.
The exchange of goods and services between countries across international borders.
Topics that use International trade
- Globalisation: benefits and drawbacks (AQA GCSE)
- How the economy works (AQA GCSE)
- Why countries trade and the importance of international trade to the UK (AQA GCSE)
- International trade (Pearson Edexcel GCSE)
Related terms
- Consumer choice
- Economies of scale
- Consumer welfare
- Consumers
- Economic growth
- Economic integration
- Employment and unemployment
- Exports
Using International trade in the exam
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