4.4 How does a country compete?

What students need to learn:

Content	Students should be able to:	Additional Guidance Notes
Measures of competitiveness	Consider measures of competitiveness.	For example: relative unit labour costs and relative export prices.
Factors influencing competitiveness	Consider factors influencing a country’s competitiveness.	For example: exchange rate; productivity; wage and non-wage costs; regulation.
Government policy	Examine government policy to increase international competitiveness.	For example: measures to improve education and training; incentives for investment; deregulation. Students might examine case studies of particular industries to see how they compete for example: cars; textiles.