A2 business studies unit 3 international business 3.1 A

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1. Which of these is a benefit for UK business if the UK joined the euro

  • exchange rates are set by the ECB
  • a reduction in transaction costs
  • transparent costs throughout the eurozone
  • initial one of conversation cost
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2. why would market saturation be a push factor for a business to trade internationally

  • sales of the product are declining
  • because it has become difficult to expand sales further in that particular market
  • There is a lot of competition from similar products
  • government have a limit on how big a company can grow

3. what is the definition of economies scale

  • a reduction in the advrage cost of production brought about by the increase in the size and scale of the business
  • investing in a country other then the one head office is located
  • stands for Brazil Russia and China
  • it has become difficult to expand sales further

4. What is the definition of a tariff

  • taxes on imported goods
  • refers to the many phases a product goes through
  • refers to the process of removing barriers to trade
  • a group of countries where barriers to trade are reduced or eliminated

5. which of these is not a benefit of trading with in a trading bloc

  • risk spreading
  • grater competition with in a trading bloc can increase efficiency within many firms
  • reaching an agreement with member states can be difficult and time consuming
  • huge new markets accessible

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