Global Competitiveness (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Which advantage do MNCs gain by operating globally that domestic-only firms cannot access?
Which advantage do MNCs gain by operating globally that domestic-only firms cannot access?
Risk diversification across multiple markets
What happens to a firm's exports when its currency depreciates?
What happens to a firm's exports when its currency depreciates?
Exports become cheaper for foreign buyers
What is the main disadvantage for exporters when their home currency appreciates?
What is the main disadvantage for exporters when their home currency appreciates?
Exports become more expensive for customers
A £100 component cost 12,800 yen in 2011 (£1=128 yen). What did it cost in 2015 at £1=184 yen?
A £100 component cost 12,800 yen in 2011 (£1=128 yen). What did it cost in 2015 at £1=184 yen?
18,400 yen
British exports generally have price inelastic demand. What does this mean for currency changes?
British exports generally have price inelastic demand. What does this mean for currency changes?
Small volume changes from price changes
What is economic risk for international firms?
What is economic risk for international firms?
Future cash flows change from rate moves
Which firms use a cost leadership strategy?
Which firms use a cost leadership strategy?
Aldi, Lidl, and easyJet
What does a differentiation strategy require to remain competitive long-term?
What does a differentiation strategy require to remain competitive long-term?
Brand recognition or IP protection
How do fixed contracts help firms manage exchange rate uncertainty?
How do fixed contracts help firms manage exchange rate uncertainty?
Lock prices 12-18 months ahead
What limits Castle Precision Engineering's growth despite exporting one-third of production?
What limits Castle Precision Engineering's growth despite exporting one-third of production?
Skilled worker and engineer shortages