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2.1 Growing the business

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Question 7

A UK bicycle manufacturer imports components. A new tariff is placed on those components. Which chain is most likely?

[1]
A

Import costs fall, allowing the business to reduce its prices

B

Import costs rise, which may reduce profit unless prices or suppliers change

C

Export revenue rises automatically because the tariff is paid by overseas customers

D

Overseas competition disappears, guaranteeing a larger market share

Markscheme

2.1 Growing the business Questions

  1. GCSE
  2. /Business
  3. /2.1 Growing the business

37 exam-style questions on Edexcel GCSE Business 2.1 Growing the business, covering 2.1.1a Internal (organic) growth, 2.1.1b External (inorganic) growth, 2.1.1c Ownership for growing businesses, 2.1.1d Finance for growing and established businesses, 2.1.2a Why aims and objectives change, 2.1.2b How aims and objectives change, 2.1.3a The impact of globalisation on businesses, 2.1.3b Barriers to international trade, 2.1.3c How businesses compete internationally, 2.1.4a Ethical and environmental considerations, and 2.1.4b Pressure group activity and the marketing mix. Each one has a worked solution and a mark scheme showing where the marks go.

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