4.1.9 International competitiveness Flashcards
1
Q
What is meant by international competitiveness?
A
measures the relative cost and value of a countries exports
2
Q
What are some factors which might determine the competitive of a country?
A
- Relative inflation rates.
- Exchange rates.
- Labour productivity
3
Q
What is meant by export-led growth?
A
occurs when a country seeks economic development by engaging in international trade.
4
Q
What impact may competitiveness have on the balance of payments on the current account?
A
current account surplus
5
Q
What are some supply side policies which countries might use to become more competitive internationally?
A
- improve BoP
- Free trade agreements
- deregulation
