GCSE Business Unit 2 AQA

Which of these is a correct definition of Interest Rates

• The cost of using a bank

• The cost of borrowing

• The reward for saving

• The fee charged for arranging a loan

What happens to the cost of imports as the pound gets stronger?

• They get more expensive for foreign customers

• Nothing happens

• They get cheaper for UK customers

• More people buy exports

Which are a possible impact for a business due to changing technology?

• More sales

• Wider market to sell to

• Less competition

• Faster pace of change to keep up with

• Customers less likely to buy as they get fed up with updates

Why is it important for businesses to be compliant with Equality laws?

• So they don't upset someone

• So they don't get sued

• So they can maintain a good reputation

• So they can avoid recruiting the wrong person

What does 'ethical behaviour' mean in relation to business

• Using fair trade suppliers

• Being compliant with Health & Safety laws

• Paying a fair (living) wage

• Only selling their products to financially stable nations

Which of these apply to a business trying to operate in an environmentally friendly way?

• Reducing the amount of traffic to and from stores

• Sending waste to landfill sites

• Publishing 'green' reports on their website

• Cutting noise pollution

How would a business that is environmentally responsible benefit in comparison to competitors?

• They are putting out less pollution and plastics

• Attracting customers that prefer 'greener' businesses

• Higher costs due to recyclable packaging being more expensive

• Less demand for their products because they are more expensive

Which of these factors relates to the 'external environment'?

• Being 'green' in the way a business operates

• The economy e.g. interest rates & inflation

• Actions of competitors

• The budget a business has to spend

What is Inflation?

• The relationship between costs and revenues

• How many more sales a business has made that year

• A general rise in prices over time

• The cost of borrowing and the reward for saving

Which of these is the definition of a monopoly?

• There are a small number of large businesses in a market

• There are many small businesses in a market

• There are a few large and a few small business in a market

• There is one large and dominant business in a market