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1.5 Understanding external influences on business

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Question 6

The pound changes from £1 = €1.12 to £1 = €1.20. What is a likely effect on a UK business exporting services priced in pounds to eurozone customers?

[1]
A

Its services become cheaper in euros, so demand must rise

B

Its UK wage costs are automatically paid in euros

C

The exchange-rate change has no effect because it sells services rather than physical goods

D

Its services may become more expensive in euros, making sales harder

Markscheme

1.5 Understanding external influences on business Questions

  1. GCSE
  2. /Business
  3. /1.5 Understanding external influences on business

37 exam-style questions on Edexcel GCSE Business 1.5 Understanding external influences on business, covering 1.5.1a Business stakeholders and their objectives, 1.5.1b How stakeholders and businesses affect each other, 1.5.1c Conflicts between stakeholder groups, 1.5.2a Types of technology used by business, 1.5.2b How technology influences business activity, 1.5.3a Principles of consumer law, 1.5.3b Principles of employment law, 1.5.3c The cost impact of legislation, 1.5.3d Consequences of meeting legal obligations, 1.5.4 The economy and business, and 1.5.5 External influences. Each one has a worked solution and a mark scheme showing where the marks go.

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