Economics
Multinational Corporations (MNCs)
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes The Impact of MNCs on the Local Economy MNCs have a huge amount of market power as they operate in large sizes Local Labour, wages, working conditions and job creation There are increased job opportunities and […]
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Assessing the potential of different Economies
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Factors influencing expansion into a market Ease of doing business The ease of doing business is influenced by several factors: government policies, political stability, corruption, and stability of the economy A firm is more likely to […]
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Growing Economies
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Asia (India and China) There has been a rise of emerging markets such as India and China since WW2, leading to a change in the pattern of trade The manufacturing sector of the UK has declined […]
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Efficiency and Competitiveness using Lean Production
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Quality Lean Production – keeping wastage to a minimal during the different stages of the production process, with the intention to reduce costs. It aims to meet customer demand and do things right the first time round to […]
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Capacity Utilisation
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Full Capacity and Spare Capacity Capacity Utilisation = (actual level of output / maximum possible output) x 100 This refers to the extent to which companies are operating at the productive capacity and can therefore be […]
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Competing on Price
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Pricing Strategies Cost Plus This can be used when a retailer wants to find out the gross profit margin of a sale in advance Since retailers know the cost will be covered if they sell the good, […]
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Competing on Price
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Pricing Strategies Cost Plus This can be used when a retailer wants to find out the gross profit margin of a sale in advance Since retailers know the cost will be covered if they sell the good, […]
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Research & Development and Innovation
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Competitive Advantage through Innovation When a firm produces goods / services that are better than it’s competitors, it has comparative advantage A firm can use pricing techniques, quality, cost, or operate in a niche market to […]
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Types / Sources of Credit and the impact of Credit within the Economy
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Types of Credit Loans This involves borrowing money which is then repaid at a later date with added interest payments Secured Loans – these are secured against the borrower’s assets to protect the bank’s funds if the […]
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Risk and Liability
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes The meaning of Risk Risk is the probability of damage or a loss occurring Banks lend capital to consumers / firms / other financial institutions, and therefore carry a risk – the risk of the capital […]
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