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Cambridge IGCSE Business Studies practice

Paper 1 structured question: Business and the international economy

Try the question first, then check the answer and practise the same topic again.

Attempt questionBusiness and the international economy revisionRevise the key idea

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4

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Topic

Business and the international economy

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Paper 1Short Answer and Data Response4 marks

Government trade policies.

Description

Trade Policies

Governments often implement tariffs and quotas to regulate trade. Tariffs are taxes on imports, while quotas limit the amount of a product that can be imported.

  1. a

    Explain why a government might impose import tariffs.

    Aim for approximately 4 distinct marking points.

    [4]

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Paper 1 structured question: Business and the international economy

Paper 1Short Answer and Data Response1 marks

Description

Globalisation Overview

Globalisation has led to increased interconnectedness among markets, allowing businesses to operate internationally. However, it also brings challenges such as competition from foreign firms.

  1. a

    State one opportunity that globalisation presents for businesses.

    Aim for approximately 1 distinct marking point.

    [1]