Year 12 Recap - Trade
This Year 12 Recap video covers the basics around the topic of trade.
The trade balance of a country provides an important indicator of how competitive a country is with the rest of the world. In many economics exam papers, there will be an essay question testing students knowledge of the trading relationship between countries and how a change in this relationship will affect the relative performance of the economies. Therefore students need to be confident with the terminology surrounding trade and the factors which cause a country to run either a surplus or a deficit.
Here Jack guides you around the topic of trade:
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