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    Hi i am struggling to answer this particular question for AS macroeconomics

    How to structure this question? and what is necessary to discuss and evaluate?

    The question is :

    "In the Global Competitiveness Index for 2013–2014 the UK economy was placed tenth in the world."

    Evaluate, with the aid of an appropriate diagram(s), the potential impact on the UK economy of an improvement in its international competitiveness. (20 marks)

    thanks for any help given
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    You could check the mark scheme for ideas
    http://www.ocr.org.uk/Images/170861-...t-material.pdf

    L3: impact on 2 or 3 macroeconomic objectives
    L4: evaluation
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    Suggested structure
    Define international competitiveness and outline the factors that affect it, eg unit labour costs.
    Explain the connection between improved competitiveness and an increase in exports and fall in imports.
    ADAS diagram showing a shift in AD
    Implications for the UK economy in terms of impact on the macroeconomic objectives
    Evaluate - improvement in competitiveness may only be short term
    - exports are a relatively small proportion of AD so impact may be small
    - Other countries may improve their competitiveness too so UK needs to improve faster than others for there to be an impact.
    Hope that helps
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    (Original post by mapotts53)
    Suggested structure
    Define international competitiveness and outline the factors that affect it, eg unit labour costs.
    Explain the connection between improved competitiveness and an increase in exports and fall in imports.
    ADAS diagram showing a shift in AD
    Implications for the UK economy in terms of impact on the macroeconomic objectives
    Evaluate - improvement in competitiveness may only be short term
    - exports are a relatively small proportion of AD so impact may be small
    - Other countries may improve their competitiveness too so UK needs to improve faster than others for there to be an impact.
    Hope that helps
    Wow Thanks a lot mate, that actually helped so much

    Thank you soo much
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    (Original post by Junaid12)
    Wow Thanks a lot mate, that actually helped so much

    Thank you soo much
    No problem. Glad to be of help
 
 
 
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