EDEXCEL A-LEVEL 2023 BUSINESS PAPER 1 MARK SCHEME EXAM 2024/2025 | ACCURATE AND VERIFIED EXAM QUESTIONS AND ANSWERS FOR GUARANTEED PASS | LATEST UPDATE

EDEXCEL A-LEVEL 2023 BUSINESS PAPER 1
MARK SCHEME EXAM 2024/2025 |
ACCURATE AND VERIFIED EXAM
QUESTIONS AND ANSWERS FOR
GUARANTEED PASS | LATEST UPDATE



Edexcel - ✔✔ANSW✔✔..The largest awarding body in the
UK, providing academic and vocational qualifications.
RCEP trading bloc - ✔✔ANSW✔✔..Regional
Comprehensive Economic Partnership, a trading bloc
formed by several countries.

globalization - ✔✔ANSW✔✔..The process of economies
and cultures becoming more interconnected on a global
scale.

standardizing - ✔✔ANSW✔✔..The act of adopting a
uniform approach across different markets.

adapting - ✔✔ANSW✔✔..Modifying products or strategies
to suit local market needs.

ethnocentric approach - ✔✔ANSW✔✔..Standardizing
based on the practices of the home country.

, geocentric/polycentric approach - ✔✔ANSW✔✔..Adapting
based on the specific needs of the local market.

USP - ✔✔ANSW✔✔..Unique Selling Proposition, a
distinctive feature or benefit that sets a product apart from
its competitors.

brand loyalty - ✔✔ANSW✔✔..The commitment of
customers to a particular brand.

global distribution - ✔✔ANSW✔✔..The distribution of
products worldwide, reaching customers in different
countries.

containerisation - ✔✔ANSW✔✔..The practice of
transporting goods in standardized containers for efficient
logistics.

computer games market - ✔✔ANSW✔✔..The market for
video games, including console, PC, and mobile gaming.

global interdependence - ✔✔ANSW✔✔..The degree to
which countries rely on each other economically and
socially.

cultural factors - ✔✔ANSW✔✔..Influences on consumer
behavior based on customs, traditions, and beliefs.