100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary Business A-Level Theme 4 2023/24 Revision Notes | Pearson Edexcel $14.19
Add to cart

Summary

Summary Business A-Level Theme 4 2023/24 Revision Notes | Pearson Edexcel

 17 views  0 purchase
  • Course
  • Institution

Business A-Level Theme 4 2023/24 Revision Notes | Pearson Edexcel This revision guide will prepare you for your A-Level exams for Business Edexcel, I personally have used this and got an A* in business and so it does work, especially for those who usually revise last minute just like me. Any iss...

[Show more]

Preview 3 out of 22  pages

  • September 10, 2023
  • 22
  • 2023/2024
  • Summary
avatar-seller
4.1.1 | Growing Economies

GDP – The total value of goods and services produced in the UK in a particular time period, used
to measure changes in economic growth.

BRICS Economies
- Superpowers that have economic, cultural and geopolitical influence.
- Brazil, Russia, India, China, South Africa

MINT Economies
- Made by Jim O’Neill
- Developing and emerging economic giants
- Mexico, Indonesia, Nigeria, Turkey

Development of Economies
To assess development of economies, there are 4 main factors.

GDP
GDP per capita is the main measure because it works out the value of goods and services a
single individual consumes. It is assumed that as GDP per capita rises, living standards also rise.

Literacy
This is the percentage of which a country has the ability to read/write, without this it is hard for
individuals to get jobs since they won’t be as productive as someone who can read/write

Health
This is how healthy a country is, for example a country like the UK has good health levels with
the NHS, however we struggle with obesity and tackling it. Better health in a country means that
economy is most likely strong and there is less unemployment

Human Development Index (HDI)
Statistic which combines life expectancy, education, and income, which are used to rank
countries into four tiers of human development.

,4.1.2 | International Trade and Business Growth

Exports and Imports
Exports – Goods or services that a firm produces in its domestic market, but sells in a foreign
market
Imports – Goods and services that are produced in a foreign market, but bought into a domestic
market.

The link between business specialisation and competitive advantage
Specialisation – When a country, firm, or individual focuses on the production of a particular
good or service.
Division of Labour – This is when a workforce is split up into different areas of production in
order to achieve an increase in efficiency.

Comparative Advantage
Comparative Advantage - The theory that a country should specialise in products and services
that it can produce more efficiently than others.
- For example, if the UK can produce 50 cars a day, but Japan can do 80 cars a day, then it is
more efficient for Japan to be the country specialising in that particular product.

Competitive Advantage
Competitive Advantage - The idea that a business should specialise in any areas where it can
perform better than its competitors.
- For example Louis Vuitton has a competitive advantage of differentiation compared to other
brands.

Foreign Direct Investment (FDI) and link to business growth
Some businesses attempt to expand into other countries or simply invest into foreign companies
because it can allow them to avoid certain barriers to the market or if they believe that there is
a high profit involved in that market. When a business expands to different countries they are
called a multinational company (MNC).

Foreign Direct Investment (FDI)
- This is when a business invests by setting up operations of buying assets in businesses in
another country, the UN classify FDI as a 10%+ stake in a foreign enterprise.

Horizontal and Vertical FDI
Horizontal – Producing the same products or services as is done at home, e.g when two steel
companies merge from two different countries.
Vertical – When a firm is seeking to acquire materials or support its own products, e.g when a
company opens up a call centre in another country to support their product at a low cost.

, Different forms of FDI
Joint Venture – Collaborative agreement between two parties to invest in a business and share
ownership and control
Strategic Alliances – When firms contract to share resources or skills or capital.
Cross Border Mergers and Acquisitions (M&A) – When two companies join together to merge and
create one identity. Acquisitions are the purchase of entire companies, 90% of FDI is done this
way.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller puveetsingh11. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $14.19. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52355 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$14.19
  • (0)
Add to cart
Added