Exam revision Business studies
Low price inflation
Low levels of unemploymen
Low levels of exports.
A firm’s sales revenue is rising only slowly each year
The economy is growing slowly each year
Average prices are increasing at a low rate
Average prices are falling year by year.
The rate of unemployment usually falls.
There will be more business failures.
There will be more goods and services produced.
Average living standards are likely to rise.
Raise government spending and reduce taxes
Reduce government spending and raise taxes
Lower rates of interest and raise government spending
Reduce taxes and lower rates of interest.
Value added tax
Changes in the level of unemployment
The balance of payments
Changes in gross national product
The rate of inflation.
A fall in sales and output for one business
A fall in the rate of inflation
A fall in gross national product
A fall in the rate at which gross national product is rising.
A luxury car maker
The postal service
A company operating bus services
A rise in the cost of business loans
A fall in demand for expensive products
A reduction in business investment and expansion plans
rise in sales paid for by consumers on credit.
Where the business locates
The method of production used
The amount of pollution allowed
The advertising of the products to the consumers.
Prices are often higher under monopoly
Costs of production are often lower under monopoly
There is more consumer choice under monopoly.
New firms are able to join the industry easily to create more competition.
They will become monopolists one day
They provide competition for larger firms
They pay more profits tax than larger firms
Each small firm employs more staff than large firms.
It will lead to lower wages for all employees
Unemployed people will be discouraged from looking for work
It could raise business costs and therefore prices
It will encourage more employers to exploit their workers.
Machinery must be well protected and regularly checked.
Workers must have clean working conditions and some work breaks.
Meat must be of the highest quality.
Meat must be kept in hygienic conditions.
Buying the products and trying to sell them abroad itself
Helping to organise trade fairs abroad for firms to display their products
Paying for the exports so that foreign customers are encouraged to buy more
Putting import tariffs on goods from many big countries.
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