Edexcel A level business theme 4
Exam Questions with 100% Correct
Answers
BRICS - Answer>>Brazil, Russia, India, China & South Africa
Indicators of growth - Answer>>Statistics that show the extent
to which a country is increasing in size
Equation of GDP - Answer>>National income/population
Business specialisation - Answer>>When businesses
concentrate on producing specific goods
Foreign direct investment - Answer>>Investment made by a
business from one country into the production of a business from
another country
Globalisation - Answer>>The increased integration and
interdependence of international economies
Trade liberalisation - Answer>>The process of removing
barriers to trade to encourage free movement of goods
Trade barriers - Answer>>Any government actions that limit the
free movement of goods between countries
Protectionism - Answer>>Policies imposed to restrict free
movement of goods
Tariffs - Answer>>Taxes placed on imported goods
Quotas - Answer>>A physical limit on the volume of imports
entering a country
, Embargoes - Answer>>A total ban on imported products
Subsidies - Answer>>Government payments to domestic firms
to reduce costs
Trading blocs - Answer>>Economic units formed when the
government of a group of countries agree to trade freely
Custom unions - Answer>>Members agree to the removal of
trade barriers and a common approach to trade barriers to
countries outside the BLOC
Common markets - Answer>>Members agree to the removal of
trade barriers as well the freedom of movement of factors of
production
Free trade areas - Answer>>Members agree to either reduce or
eliminate barriers for a select number of goods
Single European market - Answer>>A customs union that has a
free trade area
Push factors - Answer>>Factors that force a business to leave
a market
Pull factors - Answer>>Factors that attract a business to a
global market
Off shoring - Answer>>When a business relocates production to
another country
Outsourcing - Answer>>When a business uses the services of
another organisation
Exam Questions with 100% Correct
Answers
BRICS - Answer>>Brazil, Russia, India, China & South Africa
Indicators of growth - Answer>>Statistics that show the extent
to which a country is increasing in size
Equation of GDP - Answer>>National income/population
Business specialisation - Answer>>When businesses
concentrate on producing specific goods
Foreign direct investment - Answer>>Investment made by a
business from one country into the production of a business from
another country
Globalisation - Answer>>The increased integration and
interdependence of international economies
Trade liberalisation - Answer>>The process of removing
barriers to trade to encourage free movement of goods
Trade barriers - Answer>>Any government actions that limit the
free movement of goods between countries
Protectionism - Answer>>Policies imposed to restrict free
movement of goods
Tariffs - Answer>>Taxes placed on imported goods
Quotas - Answer>>A physical limit on the volume of imports
entering a country
, Embargoes - Answer>>A total ban on imported products
Subsidies - Answer>>Government payments to domestic firms
to reduce costs
Trading blocs - Answer>>Economic units formed when the
government of a group of countries agree to trade freely
Custom unions - Answer>>Members agree to the removal of
trade barriers and a common approach to trade barriers to
countries outside the BLOC
Common markets - Answer>>Members agree to the removal of
trade barriers as well the freedom of movement of factors of
production
Free trade areas - Answer>>Members agree to either reduce or
eliminate barriers for a select number of goods
Single European market - Answer>>A customs union that has a
free trade area
Push factors - Answer>>Factors that force a business to leave
a market
Pull factors - Answer>>Factors that attract a business to a
global market
Off shoring - Answer>>When a business relocates production to
another country
Outsourcing - Answer>>When a business uses the services of
another organisation
