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Economics National 5 Exam 2019 > Learn > Flashcards

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1

Advantages of being in eurozone

There is no barriers to trade

Uk can take advantage of cheaper labour in Western Europe

2

Disadvantages of being in eurozone

Uk has to pay into the EU budget
Unrestricted EU immigration

3

Unemployment on firms means less demand as less people with income

Yesi

4

Factors to increase supply

A reduction in VAT
Subsidies from the government
An advance in technology