What will happen to the price level when the price of imports increases?

The price level will increase, because foreign goods will be more expensive and this will effect prices overall.

GF
Answered by Gabrielle F. Economics tutor

2086 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What is the price elasticity of demand ?


What is opportunity cost


Explain how the UK tax and benefit system is used to redistribute incomes


Explain the possible effect on consumers and producers when a specific tax is imposed on cigarettes.


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences