Edexcel Business A-level theme 4.1

Question 1

dumping is when foreign rich nations sell goods into a developing economy at a low price, and flatten local competition

Accepted Answer

True

Question 2

a regional trade agreement (RTA) prevents trade

Accepted Answer

False

Question 3

which set of factors have not lead to Globalisation

Accepted Answer

businesses in the UK selling to Europe and COVID 19

Question 4

which are benefits of economic growth

Accepted Answer

increased employment rates, appreciation of the £

Question 5

which type of trade union has the most freedom

Accepted Answer

monetary union - an economic union with only one common currency

Question 6

which type of bloc is ASEAN and NAFTA

Accepted Answer

free trade area (FTA) - reduce / eliminate all barriers

Question 7

horizontal FDIs allow for production of the same products abroad, verticals FDIs produce supplies or customers abroad

Accepted Answer

True

Question 8

which of the following can take place even if one businesses doesn't want it to

Accepted Answer

takeovers - one business buys another, either to save it, or in hostility

Question 9

which are benefits of FDIs

Accepted Answer

high potential in emerging economies, avoiding traidng barriers by accessing blocs

Question 10

which of the following is not a barrier to imports

Accepted Answer

Subsidies - financial support so domestic producers can compete

Question 11

the integration of global economies (trade, immigration, flow of capital, movement of culture) is known as

Accepted Answer

globalisation

Question 12

which union is the UK no longer in

Accepted Answer

EU (a trade union with 75% tertiary income)

Question 13

the UK's target growth for the economy is 2% per year

Accepted Answer

True

Question 14

specialisation is focusing on a limited scope of goods

Accepted Answer

True

Question 15

which is an increase in the value of goods and services produced by an economy over time

Accepted Answer

economic growth

Question 16

protectionism is used to protect infant industires and jobs for domestic producers in a country

Accepted Answer

True

Question 17

which one has a bigger impact on the disposable incomes in a country?

Accepted Answer

GDP per capital (average income $48,000 UK)

Question 18

which are benefits of being in a bloc

Accepted Answer

easy to source materials, big market can be accessed with no barriers

Question 19

investments which involve setting up operations or buying assets in foreign countries

Accepted Answer

foreign direct investment, FDI

Question 20

a country specialising on one type of product or production to gain a reputation against other countries

Accepted Answer

comparative advantage

Questions 20