Commerce - 4CM1 PearsonEdexcel

Trade

Gbogbo ọrọ náà

Every country in the world trades with others, but that trade is rarely completely free. Governments use tariffs, quotas and other restrictions to protect domestic industries, shape their economies and respond to political pressures. Understanding why and how they do this is central to commerce.

In this lesson you will explore the main methods of trade protection, weigh up the arguments for and against restricting imports, and learn how exchange rates are determined and calculated. You will see how a rising or falling currency changes the cost of imports and exports, and why exchange rate movements matter to every business involved in international trade.

Ebumnobi

Understand trade protection: tariffs, quotas and trade restrictions, and their impact
Understand exchange rates: foreign exchange markets, calculation of exchange rates, exchange rate changes, impact of appreciation and depreciation of currency on international trade

Akọmọ Ojú-ẹkọ

When a government fears that cheap imports will undercut its own producers, it reaches for trade protection. The tools vary, but the goal is the same: to make foreign goods more expensive or harder to obtain so that domestic businesses can compete. Trade protection is one of the oldest economic debates, and it appears regularly on the Edexcel Commerce paper.

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Ayẹwo Ẹkọ

Ekele diri gi maka imecha ihe karịrị na Trade. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.

Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.

Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.

Which of the following is a method of trade protection? A) Advertising B) Tariff C) Exchange rate D) Dividend Answer: B
A quota limits: A) The price of exports B) The quantity of imports C) The exchange rate D) The rate of inflation Answer: B
If the exchange rate changes from 1 GBP = 1.50 USD to 1 GBP = 1.80 USD, the pound has: A) Depreciated B) Appreciated C) Stayed the same D) Been devalued by the government Answer: B
When a currency depreciates, what happens to the price of that country's exports for foreign buyers? A) They become more expensive B) They become cheaper C) They stay the same D) They are no longer available Answer: B
Which argument supports the use of tariffs to protect a new industry? A) It keeps prices low for consumers B) It gives infant industries time to grow C) It increases the range of imports available D) It reduces government revenue Answer: B