This clip from the BBC shows how one British export based manufacturing firm has coped over the last few years with with a high valued pound by investing in technology.
< http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_7260000/newsid_7264500?redirect=7264542.stm&news=1&nbwm=1&nbram=1&bbram=1&bbwm=1&asb=1 >
a) What effect does a rising pound have on the price of exports and the quantity sold?
b) What effect does a rising pound have on the price of imports and the quantity sold?
c) How has this firm overcome this problem?
d) What 2 options does the firm now face with the value of the pound falling?
e) What advice would you give this firm on which of the 2 options to follow
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