stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
IGCSE Business Studies (4BS1) Unit 1/Part 2 Flashcards | StudBud
Explore
/
IGCSE Business Studies (4BS1) Unit 1/Part 2
IGCSE Business Studies (4BS1) Unit 1/Part 2
50 terms
·
StudBud Administration
·
14 plays
A Quiz that looks at the remaining chapters of unit 1.
Flashcards
50 cards
F
Practice quiz
P
Host live
L
Questions
50
Answers
1
Which UK law says that businesses must sell goods that are 'fit for purpose'?
The Fair Trading Act 1973
The Trade Descriptions Act 1968
The Competition Act 1998
The Sale and Supply of Goods Act 1994
2
Higher interest rates slows demand in the economy and might cause businesses to do what?
Expand
Downsize
Invest in new technology
Pay workers more money
3
Value Added Tax (VAT) is a tax on what?
Goods and services
Profit
Consumers
Waste
4
Areas that are given financial support from the government are known as what?
Assisted areas
Needy areas
Disabled areas
Supported areas
5
Which of the following is NOT a threat of globalisation for businesses?
Unhappy workers
Increased risk of external shocks
Competition
International takeovers
6
If a currency depreciates it means it has what?
Stayed the same
Weakened
Strengthened
7
Locating near to other competitors can allow you to benefit from what?
Comparison shopping
The ability to dictate prices
A monopoly
Excess demand
8
What is it better for a country to have?
A trade surplus (more exports than imports)
A trade deficit (more imports than exports)
9
Which of the following is NOT a reason to restrict trade?
To allow dumping
To raise revenues from tariffs
To protect infant industries
To protect jobs
10
If a currency depreciates what will be the effect on exports?
Demand will rise as they are cheaper
Demand will fall as they are more expensive
11
The acronym that concerns the external influences on a business is called what?
S.W.O.T analysis
F.B.I analysis
External impacts matrix
P.E.S.T analysis
12
Which of the following is NOT an opportunity of globalisation for businesses?
Lower costs
Increased taxation
Access to larger markets
Access to labour
13
What do we call land that has never been built on before?
A beigefield site
A greenfield site
A dark site
A brownfield site
14
Which of the following is NOT a feature of globalisation?
There is a high level of independence
People are free to live and work
Capital can flow freely between different countries
Goods and services are traded freely
15
In which part of the UK would you expect to find the highest labour costs?
Scotland
The South West
The North East
London and the South East
16
Direct taxes are paid by the individual or the business. What tax would a sole trader pay?
Income tax
Inheritance tax
Corporation tax
Dividend tax
17
The cost of borrowing/return to savers is known as what?
Quota
Money supply
Interest
Inflation
18
What types of businesses are involved in the tertiary sector?
Retailers
Food producers
Fishermen
Construction firms
19
The government’s view on how they should tax and what they should spend it on is called what?
Monetary policy
Trade policy
Fiscal policy
Regional policy
20
Government funding cuts affect who?
Foreign exporters
State hospitals
The police
Independent schools
21
How will an extended sharp fall in the exchange rate affect international competitiveness?
Higher import prices
Exporters can sell more cheaply abroad
Higher export sales leads to more employment
Consumers will have to pay more for overseas goods
22
What do we call land that has been built on before?
A greenfield site
A bluefield site
A dirty site
A brownfield site
23
Which of the following is NOT a reason for the development of globalisation?
Increase in tourism
Improved transportation
Increase in regulation
Saturated domestic markets
24
What do consumers NOT want?
Good quality products
Mediocre service
Accurate and clear information
At a fair price
25
What is an exchange rate?
The price of one currency in terms of another
The price of both currencies combined
The value of the best currency
Two different currencies
26
Which of the following is NOT an advantage of a trade bloc?
Specialisation of products they produce cheaply/expertly
Access to wider markets
More expensive labour
Protection from larger multinationals from outside the bloc
27
What factor has had the biggest impact on retailers and is now forcing them to relocate?
Higher business rates
The internet
Increase in factor costs
Changing supplier relationships
28
Why do countries trade with each other?
To sell off commodities you need
To obtain goods that cannot be produced domestically
To obtain more expensive goods from overseas
To improve consumer choice
29
What types of businesses are involved in the secondary sector?
Retailers
Those that assemble the finished product
Farming businesses
Manufacturing businesses
30
If a currency appreciates what will be the effect on imports?
Demand is likely to rise as they are cheaper
Demand is likely to fall because they are more expensive
31
What is de-industrialisation?
Growth of the tertiary and decline of the secondary sectors?
Growth of the tertiary and decline of the primary sectors?
Growth of the primary and decline of the tertiary sectors?
Growth of the secondary and decline of the tertiary sectors?
32
What types of businesses are involved in the primary sector?
Those involved in the production of raw materials
Those involved in manufacturing/processing of raw materials
Those involved in the extraction of raw materials
Those involved in providing services to the customer
33
Which of the following factors might force you to change location (relocate)?
Unhappy workers
An improved image
New legislation
Change in factor costs
34
Generally higher interest rates are what for (most) consumers?
Good
Bad
35
Businesses in each of the three sectors depend on each other. What is this called?
Intra-dependent
Interdependence
Independence
Codependent
36
Which of the following is something that governments would NOT do to encourage globalisation?
Put up trade barriers
Relaxing laws and regulations that prevent trade/competition
Granting planning permission when needed
Keeping international borders open
37
Direct taxes are paid by the individual or the business. What tax would a company pay?
Corporation tax
Income tax
Excise duty
Value Added Tax
38
At each stage of the chain of production businesses add what?
Volume
Reputation
Cost
Value
39
A physical limit on the amount of imported goods allowed into country is called what?
Tariff
Quota
Administrative barrier
Subsidy
40
Visible trade is a trade in what?
Goods
Ideas
People
Services
41
What has NOT been a cause of de-industrialisation?
Increased competition
Shrinking public sector
People spend more income on services rather than goods
Advances in technology
42
Governments can use a number of methods to restrict trade, they are called what?
Trade fences
Trade barriers
Trade obstacles
Trade embargoes
43
What is the aim of protectionism?
To facilitate trade
To restrict trade
To enhance trade
To make trade easier
44
Which UK law says that businesses must not lie when trying to sell their products?
The Sale and Supply of Goods Act 1994
The Food Safety Act 1990
The Environment Act 1995
The Trade Descriptions Act 1968
45
Which of the following factors are NOT normally considered when deciding on business location?
Proximity to labour
Proximity to materials
Proximity to shareholders
Proximity to market
46
The sequence of activities that turn raw materials into a consumer purchase is called what?
The chain of production
The channel of production
The production chain
The production channel
47
The use of interest rates to control the economy is called what?
Monetary policy
Trade policy
Regional policy
Fiscal policy
48
Countries in the same region that join together for trade free of barriers are part of what?
A trade bloc
A trade corporation
A trade cell
A trading partnership
49
What is the balance of trade?
Invisible exports plus visible imports
Visible exports minus invisible imports
Invisible exports plus invisible imports
Visible exports minus visible imports
50
When interest rates rise businesses looking to borrow money will need to pay more and have:
Reduced investment
Faster growth
Higher profits
Lower costs
