The UK’s currency depreciated, but since the exports and imports are demand inelastic, a change in price will not lead to a great increase in quantity; thus imports are more expensive but the quantity did not change, and exports are cheap but not more people demand it. Therefore, the Marshal Lerner condition was not filled out.

Since the condition was not filled out, the UK did not get better but the currency devaluated, thus it became even worse, so the first part of the J-curve. Nevertheless, as the world noticed that UK exports are cheap they may demand more, and the UK suppliers may be able to be more efficient thus they may meet the need of the people of the country, so the UK economy will get better. The J-curve will then be complete.

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