With reference to Figure 1, explain the term ‘balance of trade in goods and services’.
Balance of Payments (Theme 2) — Edexcel Past Paper Questions
3 questions on Balance of Payments (Theme 2) (Edexcel specification 2.1.4) from the A-Level Economics papers, 2017–2023. Every question links to the official mark scheme at the page its answer begins on.
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Evaluate the main influences on the UK’s net trade balance.
One of two options in Section B — candidates answered this or the other.
With reference to the information provided and your own knowledge, assess the likely causes of the UK’s trade deficit.
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Try a broader term — for example monopoly, inflation, exchange rates, externalities or 25 marks.
Related topics
- 2.1.1 Measuring Economic Growth 8 questions
- 2.1.2 Inflation 21 questions
- 2.1.3 Employment and Unemployment 5 questions
- 2.2.1 Aggregate Demand 8 questions
- 2.2.2 Consumption 7 questions
- 2.2.3 Investment 5 questions
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