Explain a benefit of international trade for UK consumers

International trade means that international firms can enter the UK market. This will increase supply, which in turn lowers prices and increases quantity available. This will lead to an increase in consumer surplus as the price is lower and also leads to an increase in the choice of goods/services available, and therefore consumer welfare is increased.

CL
Answered by Caitlin L. Economics tutor

5036 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Why is the demand curve downward sloping


Analyse the impact that an increase in interest rates would have on employment in the UK.


Explain what is meant by a negative externality and give an example of a negative externality that arises from fuel consumption.


Explain why house prices fell during the 2008 financial crisis.


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:

© 2025 by IXL Learning