Explain one benefit of international trade for UK consumers.

The key benefit for UK consumers will come in the form of lower prices and hence they will receive a welfare gain through the increase in consumer surplus. International trade increases the size of the market and this can be represented by an increase in supply as there are now more sellers. The increase in supply, while holding demand constant, will result in an increase in quantity sold and a reduction in per unit prices.

MS
Answered by Martin S. Economics tutor

2433 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Explain why the demand for food is relatively price inelastic


Explain one possible reason why average cost per unit may increase as the output level of a business increases.


What is the Philips Curve?


How do interest rate changes affect economic growth?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning