Question 7
Question 7 of 8

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Topics Tested

the meaning of international trade (exports and imports)

the benefits of international trade to a country: wider choice of goods, higher standard of living, lower cost of imports, more investment and creation of jobs

the challenges of international trade to exporters and importers: distance, language, methods of payment, documentation, transport, customs duties, non-payment, currencies, foreign exchange rates, competition and different legal systems