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.

Answered by Jacob S. Economics tutor

2623 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Evaluate relative merits of monetary and fiscal policy measures for governments wanting reduced unemployment in the UK. (20 marks)


How would a reduction in interest rates lead to an increase in Economic Growth?


Using a demand and supply diagram, explain how an increase in taxes on domestic fuel will affect the domestic fuel market


Explain the assumptions behind perfect competition and how firms behave under this market structure.


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 2013–2024

Terms & Conditions|Privacy Policy