Business Studies

Question	Answer
What is an Exchange rate?	Is the price at which one currency can be traded for another.
List 5 main methods of restricting imports.	Quotas/ Tariffs/ Subsidies/ Product Safety Standards/ Government favouritism
Why are many firms changing their product and packaging to become more environmentally friendly?	Businesses are becoming more worried about the environment and some want a "Green Image."
What causes can arise from overspecialisation of an economy?	Overspecialisation can create vulnerability due to market/climate/cost changes.
how has the EU promoted "Free Trade" between member countries?	They made it a single market, allowed free migration and travel, there are no trade barriers for import and export and therefore costs are reduced.

Resource summary

	Created by cj.khattri almost 11 years ago