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CIMAPRA17-BA1-1 Exam - Topic 1 Question 66 Discussion

If a country joined an economic union (for example, the European Union) its business sector could benefit from all of the following except which one?
B) Economies of scale as it gained access to a larger market.
A) Higher profit margins due to a reduction in transport costs.
C) Lower input costs as imports from other member states would become cheaper.
D) Reduced costs as a result of access to a wider supply of factors of production.

CIMAPRA17-BA1-1 Exam - Topic 1 Question 66 Discussion

Actual exam question for CIMA's CIMAPRA17-BA1-1 exam
Question #: 66
Topic #: 1
[All CIMAPRA17-BA1-1 Questions]

If a country joined an economic union (for example, the European Union) its business sector could benefit from all of the following except which one?

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Suggested Answer: B

by Lilli at Feb 28, 2023, 07:34 PM

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An
10 months ago
I don't think reduced costs are guaranteed, though.
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Rima
10 months ago
Economies of scale are definitely a big plus!
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Amie
10 months ago
Wait, are we sure about the lower input costs? Sounds too good to be true.
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Gracia
11 months ago
Totally agree, bigger markets mean better profits!
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Hershel
11 months ago
A country joining an economic union usually sees lower transport costs.
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Yvonne
11 months ago
I feel like C is a strong option too, but I can't recall if there are exceptions to cheaper imports.
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Percy
11 months ago
This question reminds me of a practice question where we analyzed market access. B definitely sounds like a benefit.
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Dean
11 months ago
I'm not entirely sure, but I think D might not be a direct benefit since access to factors of production can vary.
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Earleen
11 months ago
I remember discussing how joining an economic union can lead to lower transport costs, so A seems like a benefit.
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Marla
11 months ago
This question seems straightforward - I just need to identify the 3 statements that describe the principles-based approach to corporate governance in the UK.
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Quentin
11 months ago
I've got this one! The answer is C. The Sprint length should remain the same, and the team can use this as a learning experience to improve their planning and forecasting for future Sprints.
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Jutta
11 months ago
I'm pretty sure the answer is C - BGP. That's the standard routing protocol used between Cisco ACI spines and external networks.
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Alex
1 year ago
Wait, is the correct answer 'None of the above'? I mean, who would turn down higher profits, cheaper imports, and more factors of production? That's the economic union jackpot!
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Oneida
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
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Bulah
1 year ago
B) Economies of scale as it gained access to a larger market.
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Alexis
1 year ago
A) Higher profit margins due to a reduction in transport costs.
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Tashia
1 year ago
B) Economies of scale as it gained access to a larger market. Bigger is better when it comes to business, am I right or am I right?
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Beth
1 year ago
D) Reduced costs as a result of access to a wider supply of factors of production. More options, more opportunities to optimize, am I right?
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Coral
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
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Lili
1 year ago
B) Economies of scale as it gained access to a larger market.
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Deandrea
1 year ago
A) Higher profit margins due to a reduction in transport costs.
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Verlene
1 year ago
C) Lower input costs as imports from other member states would become cheaper.
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Talia
1 year ago
B) Economies of scale as it gained access to a larger market.
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Quentin
1 year ago
A) Higher profit margins due to a reduction in transport costs.
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Salley
1 year ago
I'm going with C) Lower input costs as imports from other member states would become cheaper. Gotta take advantage of that sweet, sweet tariff-free trade!
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Rima
1 year ago
I believe they might not get higher profit margins due to a reduction in transport costs.
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Wilda
1 year ago
I agree, but which benefit do you think they would not get?
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Laquita
1 year ago
Hmm, this one's tricky. I think the answer is A) Higher profit margins due to a reduction in transport costs. Joining the EU should make trade within the bloc easier and cheaper.
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Vanna
1 year ago
I see your point, but I still think it's A) Higher profit margins due to a reduction in transport costs.
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Celia
1 year ago
Actually, I think it might be D) Reduced costs as a result of access to a wider supply of factors of production.
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Stephaine
1 year ago
I disagree, I believe the answer is C) Lower input costs as imports from other member states would become cheaper.
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Reena
1 year ago
I think the answer is B) Economies of scale as it gained access to a larger market.
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Rima
1 year ago
I think joining an economic union can really benefit a country's business sector.
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