This document provides a series of questions for an in-class revision exercise on the topics of international trade. The questions ask students to define international trade, list factors contributing to why nations trade, explain how government regulation can influence imports, discuss how importing goods at cheaper prices helps businesses remain competitive internationally, describe the impact of currency appreciation and depreciation on Australia's imports and exports, and explain the social impacts of an economic crash in Australia, including on unemployment, inflation, wages, and spending power. It also asks about America's production of goods to economies of scale and whether this makes goods cheaper to export.

1. IN CLASS
EXERCISES

2. In class revision exercise
 Define the term international trade and provide an example?
 List five factors contributing to why nations trade?
 Explain how government regulation can influence the way a country might
import products from overseas countries.
 In a short paragraph of no less than 100 words, explain the following
statement.
“Importing goods at a cheaper price helps businesses to remain
internationally competitive”
 Describe the impact of Appreciation and Depreciation on the Australian
economy. Your answer must make reference to imports and exports.
 Explain the SOCIAL impact on each of the following terms if the Australian
dollar/economy crashed.
 UNEMPLOYMENT
 INFLATION
 WAGES
 SPENDING POWER
 Why does America produce goods to economies of scale? Does this make
goods cheaper to export?