Evaluate the likely microeconomic and macroeconomic influences on the UK’s international competitiveness

Edexcel A-Level Economics Paper 3 June 2017 Insert

With reference to the information provided and your own knowledge, evaluate the likely microeconomic and macroeconomic influences on the UK’s international competitiveness. (25 marks)

Plan

• Paragraph 1
  • Argument: one microeconomic influence on international competitiveness is the productive efficiency of firms
  • Diagram: perfect competition
  • Evaluation: perfect competition is unrealistic
• Paragraph 2
  • Argument: one macroeconomic influence on international competitiveness is exchange rates
  • Diagram: exchange rates diagram
  • Evaluation: floating exchange rates fluctuate often

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