Edexcel Business Studies A Level Exam with Questions and Smart Answers 100%
Guaranteed Pass
Complementary Good - ✔✔✔-Goods bought in conjunction with each other
Demand Curve - ✔✔✔-A line showing the quantity of goods that consumers want to purchase
at different price levels
Economies of Scale - ✔✔✔-Factors that cause costs per unit to fall as production increases
Franchise - ✔✔✔-A business that sells the rights to use its name and trading methods
Generic Brand - ✔✔✔-A brand that is so famous that people use its name instead of the name
of the product
Indirect Tax - ✔✔✔-Taxes levied by the Government on goods and services
Inferior Goods - ✔✔✔-Goods for which sales fall when people are better off
Luxury Goods - ✔✔✔-Goods for which sales rise rapidly when people are better off
Market Price - ✔✔✔-The price of a commodity that has been established by the market
Normal Goods - ✔✔✔-Goods for which sales move in line with changes in consumer's income
Product Differentiation - ✔✔✔-The extent to which consumers perceive a brand to be different
from others
Seasonal Variation - ✔✔✔-Change in the value of sales related to the time of the year
Guaranteed Pass
Complementary Good - ✔✔✔-Goods bought in conjunction with each other
Demand Curve - ✔✔✔-A line showing the quantity of goods that consumers want to purchase
at different price levels
Economies of Scale - ✔✔✔-Factors that cause costs per unit to fall as production increases
Franchise - ✔✔✔-A business that sells the rights to use its name and trading methods
Generic Brand - ✔✔✔-A brand that is so famous that people use its name instead of the name
of the product
Indirect Tax - ✔✔✔-Taxes levied by the Government on goods and services
Inferior Goods - ✔✔✔-Goods for which sales fall when people are better off
Luxury Goods - ✔✔✔-Goods for which sales rise rapidly when people are better off
Market Price - ✔✔✔-The price of a commodity that has been established by the market
Normal Goods - ✔✔✔-Goods for which sales move in line with changes in consumer's income
Product Differentiation - ✔✔✔-The extent to which consumers perceive a brand to be different
from others
Seasonal Variation - ✔✔✔-Change in the value of sales related to the time of the year
