AQA AS BUSINESS 7131/2 Paper 2 Business 2 Question Paper & Mark scheme (Merged)2024 jun.

25. Market conditions - answer Number of features of a market such as the level of sales, the rate at which they are changing and the number and strength of competitors 26. Demand - answer A term used by economists to indicate the amount of a particular good or service that consumers or organisations want, and can afford, to buy at given prices 27. Gross Domestic Product (GDP) - answer Measures the value of a country's total output of goods and services over a period of time, normally one year 28. Real incomes - answer Incomes that are adjusted for the rate of inflation (or increase in prices) to show changes in purchasing power 29. Interest rates - answer The price of borrowed money 30. Fair trade - answer A social movement that exists to promote improved trading terms and living conditions for producers of products in less developed countries 31. Sustainable production - answer Occurs when the supply of a product does not impose costs on future generations by, for example, depleting non renewable resource