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S E33: Exchange Rates & International Finance - The flow of currencies around the world
Think Like An Economist
Owen Sells His Gin in the U.K.
Owen's gin is sold in the u k, but he also imports glass bottles and corks. He does this because portugal has the same currency as ireland so doesn't need to change any currency to buy his corks. Owen: "We use them for marketing expenses for as much as possible, so we don't try and convert back to ours"
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