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 type of contract. Working Time Directive - Correct Answer ️️ -Regulation setting a maximum number of hours per week an employer can insist their employees work. Also