EDEXCEL A LEVEL BUSINESS THEME 4
EXAM 2024/2025 | ACCURATE AND
VERIFIED EXAM QUESTIONS AND
ANSWERS FOR GUARANTEED PASS |
LATEST UPDATE
2 advantages of Single European Market -
✔✔ANSW✔✔..Trade creation
Access to markets
2 disadvantages of single European Market -
✔✔ANSW✔✔..Monopolies
Trade diversion
Cost
2 factors affecting imports and exports -
✔✔ANSW✔✔..Exchange rates
PED
The state of the economy
Increase in GDP
2 factors in favour of protectionism -
✔✔ANSW✔✔..Protect domestic business
Avoid externalities
Avoid overproduction
, 2 implications of economic growth - ✔✔ANSW✔✔..Trade
opportunities
Increased supply
Increased profits
Wealthier individuals
2 Pull factors - ✔✔ANSW✔✔..Economies of scale
Spreading risk
2 Push factors - ✔✔ANSW✔✔..Saturated markets
Competition
Balance of payments - ✔✔ANSW✔✔..A record of a
country's trade/transactions with the rest of the world
BRICS - ✔✔ANSW✔✔..Brazil, Russia, India, China &
South Africa
Business specialisation - ✔✔ANSW✔✔..When businesses
concentrate on producing specific goods
Common markets - ✔✔ANSW✔✔..Members agree to the
removal of trade barriers as well the freedom of movement
of factors of production
Custom unions - ✔✔ANSW✔✔..Members agree to the
removal of trade barriers and a common approach to trade
barriers to countries outside the BLOC
EXAM 2024/2025 | ACCURATE AND
VERIFIED EXAM QUESTIONS AND
ANSWERS FOR GUARANTEED PASS |
LATEST UPDATE
2 advantages of Single European Market -
✔✔ANSW✔✔..Trade creation
Access to markets
2 disadvantages of single European Market -
✔✔ANSW✔✔..Monopolies
Trade diversion
Cost
2 factors affecting imports and exports -
✔✔ANSW✔✔..Exchange rates
PED
The state of the economy
Increase in GDP
2 factors in favour of protectionism -
✔✔ANSW✔✔..Protect domestic business
Avoid externalities
Avoid overproduction
, 2 implications of economic growth - ✔✔ANSW✔✔..Trade
opportunities
Increased supply
Increased profits
Wealthier individuals
2 Pull factors - ✔✔ANSW✔✔..Economies of scale
Spreading risk
2 Push factors - ✔✔ANSW✔✔..Saturated markets
Competition
Balance of payments - ✔✔ANSW✔✔..A record of a
country's trade/transactions with the rest of the world
BRICS - ✔✔ANSW✔✔..Brazil, Russia, India, China &
South Africa
Business specialisation - ✔✔ANSW✔✔..When businesses
concentrate on producing specific goods
Common markets - ✔✔ANSW✔✔..Members agree to the
removal of trade barriers as well the freedom of movement
of factors of production
Custom unions - ✔✔ANSW✔✔..Members agree to the
removal of trade barriers and a common approach to trade
barriers to countries outside the BLOC
