Use Extract D to identify two significant points of comparison between the balance of trade in goods and the balance of trade in services over the period shown.

Comparison one: the balance of trade in goods peaked in 2010 Q4 at -£10.4 million, whereas the balance of trade in services peaked in 2011 Q2 at £5.6 million.Comparison two: the balance of trade in goods had a range of £5 million between highest and lowest, whereas the balance of trade in services had a smaller range of £2.5 million between highest and lowest.

JS

Related Economics A Level answers

All answers ▸

Equilibrium of supply and demand


Evaluate the case for the introduction of subsidies for agricultural produce. (15 marks)


"What are the causes of an appreciation (outward shift of demand) for a floating exchange rate?"


Where on a firm diagram would a firm be at a profit maximising equilibrium?