A Level Business Paper 2 - April 2024 - In Class Assessment Questions and Answers 100% Pass

A Level Business Paper 2 - April 2024 - In Class Assessment Questions and Answers 100% Pass Appreciation of a currency - Correct Answer ️️ -A rise in the value of a currency Base rate - Correct Answer ️️ -The rate of interest around which a bank structures other interest rates. Boom - Correct Answer ️️ -The peak of the economic cycle where GDP is growing at its fastest Consumer price index (CPI) - Correct Answer ️️ -A common measure of price changes used in the UK Deflation - Correct Answer ️️ -A fall in the general price level. Depreciation of a currency - Correct Answer ️️ -A fall in the value of a currency Downturn - Correct Answer ️️ -A period in the economic cycle where GDP grows, but more slowly Business cycle - Correct Answer ️️ -A diagram showing the fluctuations seen in an economy (e.g. boom, recession, etc.) Exchange rate - Correct Answer ️️ -The price of one currency in terms of another Government expenditure - Correct Answer ️️ -The amount spent by the government in its provision of public services GDP - Correct Answer ️️ -the total market value of all final goods and services produced in an economy. Usually measured quarterly. Inflation - Correct Answer ️️ -A general rise in prices Recession - Correct Answer ️️ -A less severe form of depression Recovery or upswing - Correct Answer ️️ -A period where economic growth begins to increase again after a recession Slump or depression - Correct Answer ️️ -The bottom of the business cycle where GDP is at it's lowest with significant increases in unemployment Taxation - Correct Answer ️️ -The charges made by government on the activities, earnings and income of businesses and individuals Collusion / acting as a cartel - Correct Answer ️️ -Two (or more) businesses agreeing to a restrictive practice, such as price fixing Employee protection - Correct Answer ️️ -Laws that are written with the aim of providing legal rights to employees. Includes Minimum Wage, Employment Rights Act, Working Time Directive, etc. Employment Rights Act 1996 - Correct Answer ️️ -An employee must be given a written contract of employment within two months of starting. The contract will state the employee's rate of pay, hours, holiday entitlement, redundancy pay and the ty