The impact of globalisation on businesses: ● imports: competition from overseas, buying from overseas ● exports: selling to overseas markets ● changing business locations ● multinationals. Barriers to international trade: ● tariffs ● trade blocs. How businesses compete internationally: ● the use of the internet and e-commerce ● changing the marketing mix to compete internationally.
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Demonstrate Question
This question is an explain question. You MUST use the BLT format. An example is below for a different explain question. The structure of your answer should match the example.
Explain an advantage of having limited liability. (3 marks).
One advantage is that you only risk losing the money you invest in the business.
This is because you and your business have separate legal identities
This leads to being more likely to take calculated risks with the business
Therefore having greater returns when those risks are successful
Have a go at your own
Explain one drawback to a business if a tariff is placed on the raw materials it imports.
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Mark Scheme
