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4.2.1 Conditions that prompt trade Flashcards | StudBud

Explore/4.2.1 Conditions that prompt trade

4.2.1 Conditions that prompt trade

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Key terms Edexcel Theme 4 Business

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Questions 9

Answers

1
Outsourcing can be described as...
a business function being contracted to an external provider
The moving of operations of a business to another country
2
Which one of these is not a push factor?
may benefit from economies of scale
high levels of competition
market saturation
Closer to raw materials
3
What is Labour Productivity?
The amount of goods/services produced by one hour of labour
The amount of goods/services produced by one day of labour
The Value of goods/services produced by one hour of labour
4
Which one of these is not a pull factor?
Economies of Scale
saturated domestic market
Increase in demand
Less Competition
5
What is the definition of off-shoring?
shifting jobs to another country
shifting jobs to another organisation
shifting jobs around a country
increasing the amount of jobs
6
What is market saturation?
when most customers who want to buy a product already haveit
a stage that a product goes through
when a business targets a new market
7
What is a pull factor?
brings advantages to businesses
entice firms into new markets
factor that will drive a business out of a existing market
8
What may businesses do to extend the product life cycle?
Create a brand new product
sell the business
move to new international markets
9
What is disposable income?
Income minus tax deductions
Income minus tax deductions, national insurance and VAT
Income minus tax deductions and national insurance