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