Explain one benefit of the UK developing free-trade agreements with non-EU countries

It would enable UK firms to trade in foreign markets without tariffs, this is beneficial because the Uk firms would be more competitive with their goods being lower priced. It would also allow for foreign firms to supply more easily into the UK market and this would mean UK consumers would have a larger variety of goods to choose from.

OB

Related Economics GCSE answers

All answers ▸

What is a 'trade off'?


Explain why the demand for food has an inelastic PeD.


Should skilled workers be paid more than unskilled workers? (8 marks)


What affect does increasing demand have on price levels and consumer surplus?