Tag Archives: Economy

Red Tape and Minimum Wage – GCSE Business Studies Revision


Minimum Before minimum wage was introduced in 1997, workers could be paid very low amounts! This meant employees would just get a job at wherever paid the most The minimum wage is the lowest amount a worker can be paid … Continue reading

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The European Union – GCSE Business Studies Revision


EU At the time of writing there are 27 countries in it, and 16 use the single currency (euro) I can’t be bothered to list them here, and I’m sure there won’t be a question asking you to list them … Continue reading

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Import Protection (International Trade) – GCSE Business Studies Revision


Income Differences The world’s income isn’t distributed evenly – some countries have much higher incomes than others Developed countries are those with high incomes Low to middle-income┬ácountries are called developing countries Developing countries often have no minimum wage Businesses from … Continue reading

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Remuneration – GCSE Business Studies


It’s Remuneration – money paid for work (or a service) Payment can be used to motivate workers There are lots of different methods of remuneration It’s reMUNeration, not re-numeration Workers get a payslip┬áthat shows their details, national insurance number, gross … Continue reading

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Stock (Control) – GCSE Business Studies Revision


Types of Stock Stocks of (raw) materials the business has bought Stocks of half-finished products the business is manufacturing Stocks of finished products that haven’t been sold yet Stock Levels Maximum Stock Level: The largest amount the business can hold … Continue reading

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The Business Cycle (Economic Activity) – GCSE Business Studies Revision


This revision content is also featured in this video on my YouTube channel! (I give my YouTube channel permission to monetize the revision content) The Business Cycle: 1: Growth Economic growth is a rise in economic activity This makes people … Continue reading

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