The Economics of Brexit: Brexit

The video discusses the challenges and economic implications of Brexit, highlighting the uncertainty and its impact on the UK economy and global supply chains. It emphasizes the importance of confidence and stability in economic growth and explores potential future scenarios for the UK post-Brexit.

What was one of the main challenges faced by the UK after the Brexit vote?

• Increased EU support

• Lack of a clear plan

• Political stability

• Immediate economic growth

How did Brexit impact businesses that relied on trade with EU countries?

• It made trade easier

• It had no impact

• It increased EU privileges

• It complicated trade due to loss of EU privileges

Why is global trade not as simple as one country making a product and sending it elsewhere?

• Because of local production laws

• Due to global supply chains

• Because of high local demand

• Due to lack of resources

What is a potential consequence of Brexit uncertainty on businesses?

• Simplified trade regulations

• Immediate economic growth

• Stagnation in economic decisions

• Increased investment in supply chains

How might companies like Rolls Royce adapt to a no-deal Brexit?

• By stopping production

• By reducing workforce

• By increasing EU imports

• By reevaluating supply partners

What is a positive aspect of the UK's economic future post-Brexit?

• Complete economic collapse

• Increased EU dependency

• Strong domestic industries

• Loss of all trading partners

What advice is given to the UK regarding its relationship with the EU?

• To increase EU dependency

• To avoid new trade partners

• To focus on its own economy

• To remain in the EU