Paper 2 - Growing The Business

Question 1

ENTERING MARKETS

Answer 1

When a company decides to open up in a market it hasn’t been in before. Fro example, Walkers launching cereal bars.

Question 2

EXITING MARKETS

Answer 2

Choosing to leave a market probably because it is loss making and looked set to continue.

Question 3

COMPETING INTERNATIONALLY

Answer 3

Finding a way to succeed against rivals from overseas

Question 4

FREE TRADE

Answer 4

Trade between countries with no barriers, for example, no tariffs.

Question 5

GLOBALSIATION

Answer 5

The increasing tendency for countries to trade with each other and to buy global goods.

Question 6

IMPORTS

Answer 6

Goods or services bought from overseas.

Question 7

TARIFFS

Answer 7

Taxes charged only on Imports.

Question 8

TRADE BLOCS

Answer 8

A group of countries that have agreed to have free trade within external tariff walls.

Question 9

ETHICAL CONSIDERATIONS

Answer 9

Thinking about ethics, which may lead to morally valid decisions or may lead to the manipulation of customer attitudes.

Question 10

ETHICS

Answer 10

Weighing up decisions or actions on the basis of morality not personal gain.

Question 11

FAIR TRADE

Answer 11

A social movement whose goal is to help producers in developing countries achieve better trading conditions and promote sustainability.

Question 12

TRADE OFFS

Answer 12

How having more of one thing may force you to have less of another. For example, having ethical standards may mean less profit.

Question 13

ENVIRONMENTAL CONSIDERATIONS

Answer 13

Factors relating to green issues such as sustainability and pollution.

Question 14

SUSTAINABILITY

Answer 14

Whether or not a resource will inevitably run out in the future.