Business specialisation - Study guides, Class notes & Summaries
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Edexcel A-level Economics Paper 1 2024/2025 questions and correct answers
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Edexcel A-level Economics Paper 1 
2024/2025 questions and correct 
answers 
Economics - answer The study of the allocation of scarce resources. 
 Economic Goods - answer Resources that are scarce. 
 Short Run - answer A time period where at least one factor of production is fixed. 
 Long Run - answer A time period where all factors of production are variable. 
 Productivity - answer The output per unit of input. 
 The Economic Problem - answer Resources are scarce but wants are infinite. 
 Sca...
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Cambridge IGCSE Business Studies Exam Questions with 100% Correct Answers
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Cambridge IGCSE Business Studies 
Exam Questions with 100% Correct 
Answers 
A Need - A good or service essential for living. 
A want - A good or service that people would like to have, but which is 
not essential for living. 
Economic problem - Unlimited wants but limited resources - this creates 
scarcity. 
Scarcity - Lack of sufficient products to satisfy total wants of population. 
Opportunity Costs - The next best item given up by choosing another. 
Factors of production - Resources needed ...
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AQA GCSE ECONOMICS 8136/1 Paper 1 How Markets Work Version: 1.0 Final *JUN238136101* IB/H/Jun23/E7 8136/1QUESTION PAPER & MARKING SCHEME/ [MERGED] Marl( scheme June 2023
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GCSE 
ECONOMICS 
8136/1 
Paper 1 How Markets Work 
Version: 1.0 Final 
*JUN* 
IB/H/Jun23/E7 8136/1 
For Examiner’s Use 
Section Mark 
A 
B 
TOTAL 
Wednesday 17 May 2023 Afternoon Time allowed: 1 hour 45 minutes 
Materials 
You will need no other materials. 
You may use a calculator. 
Instructions 
• Use black ink or black ball-point pen. 
• Fill in the boxes at the top of this page. 
• Answer all questions. 
• You must answer the questions in the spaces provided. Do not write on 
blank...
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EDEXCEL A LEVEL BUSINESS EXAM LATEST UPDATE 2023-2024 -THEME 4
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EDEXCEL A LEVEL BUSINESS EXAM LATEST UPDATE -THEME 4 
Economic growth - CORRECT ANSWER- An increase in a country's productive capacity 
Emerging economies - CORRECT ANSWER- The economies of developing countries where there is rapid growth, but also significant risk 
Human Development Index (HDI) - CORRECT ANSWER- A collection of statistics that are combined into an index, ranking countries according to their human development 
Literacy rate - CORRECT ANSWER- The percentage of adults (over 15) ...
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LATEST Edexcel A-level Economics Paper 1 2024/2025 questions and correct answers
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Economics - answer The study of the allocation of scarce resources. 
Economic Goods - answer Resources that are scarce. 
Short Run - answer A time period where at least one factor of production is fixed. 
Long Run - answer A time period where all factors of production are variable. 
Productivity - answer The output per unit of input. 
The Economic Problem - answer Resources are scarce but wants are infinite. 
Scarcity - answer The world's resources are limited, there are only limited amounts of...
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Edexcel A-level Economics Theme 1-4 Exam 2024 Questions & Answers (SCORED A+)
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Economics - ANSWERSThe study of the allocation of scarce resources. 
 
Economic Goods - ANSWERSResources that are scarce. 
 
Short Run - ANSWERSA time period where at least one factor of production is fixed. 
 
Long Run - ANSWERSA time period where all factors of production are variable. 
 
Productivity - ANSWERSThe output per unit of input. 
 
The Economic Problem - ANSWERSResources are scarce but wants are infinite. 
 
Scarcity - ANSWERSThe world's resources are limited, there are only limite...
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Edexcel A-level Economics Paper 1 With Answers -2024
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Economics - correct answer The study of the allocation of scarce resources. 
 
Economic Goods - correct answer Resources that are scarce. 
 
Short Run - correct answer A time period where at least one factor of production is fixed. 
 
Long Run - correct answer A time period where all factors of production are variable. 
 
Productivity - correct answer The output per unit of input. 
 
The Economic Problem - correct answer Resources are scarce but wants are infinite. 
 
Scarcity - correct a...
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Edexcel A level business theme 4 Questions with correct answers-2024
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BRICS - Answer Brazil, Russia, India, China & South Africa 
 
Indicators of growth - Answer Statistics that show the extent to which a country is increasing in size 
 
Equation of GDP - Answer National income/population 
 
Business specialisation - Answer When businesses concentrate on producing specific goods 
 
Foreign direct investment - Answer Investment made by a business from one country into the production of a business from another country 
 
Globalisation - Answer The increa...
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Edexcel AS/A Level Business - Theme 2 ALL SOLUTION LATESTB SPRING -2023/24 EDITION GUARANTEED GRADE A+
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Capital 
The money provided by the owners in a business 
Capital expenditure 
Spending on business resources that can be used repeatedly over a period of time 
Internal finance 
Money generated by the business or its current owners 
Retained profit 
Profit after tax that is 'ploughed back' into the business 
Revenue expenditure 
Spending on business resources that have already been consumed or will be very shortly 
Sale and leaseback 
The practice of selling assets, such as property or machine...
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Cambridge IGCSE Business Studies Questions with Correct Answers.
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A Need Correct Answer A good or service essential for living. 
 
A want Correct Answer A good or service that people would like to have, but which is not essential for living. 
 
Economic problem Correct Answer Unlimited wants but limited resources - this creates scarcity. 
 
Scarcity Correct Answer Lack of sufficient products to satisfy total wants of population. 
 
Opportunity Costs Correct Answer The next best item given up by choosing another. 
 
Factors of production Correct Answer Resource...
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