EDEXCEL A LEVEL BUSINESS QUESTIONS
WITH CORRECT ANSWERS 2026-2027
GDP (Gross domestic product) - CORRECT ANSWER -
The total value of goods and services produced by a particular country, over a year.
Emerging Market - CORRECT ANSWER -A country with rapid economic growth.
Multinational - CORRECT ANSWER -
A business with its head quarters in one country and based in other countries.
Merger - CORRECT ANSWER -
Where two companies agree they should join together in to one business.
Monetary policy - CORRECT ANSWER -Policy that controls the interest rates.
Fiscal policy - CORRECT ANSWER -Government policy that sets tax rates and government spending.
Monopoly - CORRECT ANSWER -Where one firm firm controls most or all of the market.
Outsourcing - CORRECT ANSWER -When a firm has its activities carried out abroad.
Opportunity cost - CORRECT ANSWER -
The idea that money or time spend doing something is likely to mean missing out on doing something
else.
Protectionism - CORRECT ANSWER -
When a country tries to protects its own companies by making it harder for foreign companies to trad
e.
Specialisation - CORRECT ANSWER -
One country is better at producing a product or service. Workers become experts at their given job.
, Subsidy - CORRECT ANSWER -
Money paid by the government to certain industries to keep the costs of production down.
Takeover - CORRECT ANSWER -
Where one firms buys 50% of the shares of another firm, giving them the controlling interest.
Tariff - CORRECT ANSWER -Tax paid on imported goods.
Trade barrier - CORRECT ANSWER -
Tariffs or quotas that make it more difficult for foreign goods to enter a country.
Trading bloc - CORRECT ANSWER -ADgroup of countries that trade freely with each other.
Trade unions -DCORRECT ANSWER -Groups that act on behalf of employees in negotiations.
Inflation - CORRECT ANSWER -
Exchange rate - CORRECT ANSWER -
Interest rate - CORRECT ANSWER -
Elasticity of demand - CORRECT ANSWER -
Economies of scale - CORRECT ANSWER -
Diseconomies of scale - CORRECT ANSWER -
Stakeholder - CORRECT ANSWER -
WITH CORRECT ANSWERS 2026-2027
GDP (Gross domestic product) - CORRECT ANSWER -
The total value of goods and services produced by a particular country, over a year.
Emerging Market - CORRECT ANSWER -A country with rapid economic growth.
Multinational - CORRECT ANSWER -
A business with its head quarters in one country and based in other countries.
Merger - CORRECT ANSWER -
Where two companies agree they should join together in to one business.
Monetary policy - CORRECT ANSWER -Policy that controls the interest rates.
Fiscal policy - CORRECT ANSWER -Government policy that sets tax rates and government spending.
Monopoly - CORRECT ANSWER -Where one firm firm controls most or all of the market.
Outsourcing - CORRECT ANSWER -When a firm has its activities carried out abroad.
Opportunity cost - CORRECT ANSWER -
The idea that money or time spend doing something is likely to mean missing out on doing something
else.
Protectionism - CORRECT ANSWER -
When a country tries to protects its own companies by making it harder for foreign companies to trad
e.
Specialisation - CORRECT ANSWER -
One country is better at producing a product or service. Workers become experts at their given job.
, Subsidy - CORRECT ANSWER -
Money paid by the government to certain industries to keep the costs of production down.
Takeover - CORRECT ANSWER -
Where one firms buys 50% of the shares of another firm, giving them the controlling interest.
Tariff - CORRECT ANSWER -Tax paid on imported goods.
Trade barrier - CORRECT ANSWER -
Tariffs or quotas that make it more difficult for foreign goods to enter a country.
Trading bloc - CORRECT ANSWER -ADgroup of countries that trade freely with each other.
Trade unions -DCORRECT ANSWER -Groups that act on behalf of employees in negotiations.
Inflation - CORRECT ANSWER -
Exchange rate - CORRECT ANSWER -
Interest rate - CORRECT ANSWER -
Elasticity of demand - CORRECT ANSWER -
Economies of scale - CORRECT ANSWER -
Diseconomies of scale - CORRECT ANSWER -
Stakeholder - CORRECT ANSWER -
