Lesson 3.9.1

3.9.1 The European Union Quiz: OCR Business, Unit 3

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

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Lesson 3.9.1, The European Union: 20 multiple choice questions for the OCR Business (H431), Unit 3: External influences, written with Revision Ninja.

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The 20 questions

  1. Which concept allows free movement of goods, services, capital, and labour across EU member states?

    • Eurozone Alliance
    • Single European Market
    • European Central Bank
    • Customs Union only

  2. What is the official common currency used by nineteen member states of the European Union?

    • Deutsche Mark
    • Pound Sterling
    • Euro
    • Swiss Franc

  3. Which term describes taxes levied on goods and services imported into a country?

    • Embargos
    • Subsidies
    • Quotas
    • Tariffs

  4. What physical limit on the quantity of a specific good imported into a nation is called?

    • Trade subsidy
    • Import quota
    • Import duty
    • Export tariff

  5. Which benefit does a UK business gain from trading within the Single European Market?

    • Guaranteed profit margins
    • Zero local taxation
    • No tariff barriers
    • Fixed exchange rates

  6. What financial risk increases for a UK business trading with EU countries outside the Eurozone?

    • Corporate tax hikes
    • Fixed tariff rates
    • Mandatory wage increases
    • Exchange rate volatility

  7. What term describes the expansion of the European Union to include additional member countries?

    • EU enlargement
    • EU globalisation
    • EU diversification
    • EU integration

  8. How does EU enlargement typically affect UK businesses seeking lower-cost manufacturing options?

    • Restricts capital flows
    • Eliminates export quotas
    • Increases labour supply
    • Increases tariff rates

  9. What disadvantage might a UK exporter face due to the UK leaving the Single European Market?

    • Lower transport costs
    • Automatic currency stability
    • Increased non-tariff barriers
    • Simplified tax returns

  10. What is a major disadvantage for a business operating within the Eurozone during economic divergence?

    • Import tariffs
    • Exchange rate fluctuations
    • Loss of monetary policy
    • Customs border delays

  11. Which type of barrier includes strict product safety regulations and bureaucracy at international borders?

    • Export tax
    • Customs duty
    • Import tariff
    • Non-tariff barrier

  12. What advantage does holding a single currency offer businesses trading across multiple Eurozone countries?

    • Guaranteed sales volumes
    • Higher interest rates
    • Lower corporation tax
    • Reduced transaction costs

  13. What is the main political risk for a UK firm when trade regulations change post-Brexit?

    • Immediate nationalisation
    • Currency hyperinflation
    • Regulatory uncertainty
    • Total trade embargo

  14. How does free movement of labour benefit EU member state businesses facing skill shortages?

    • Wider recruitment pool
    • Higher import tariffs
    • Automatic government subsidies
    • Lower minimum wage

  15. What financial benefit do uniform EU product standards offer manufacturing firms selling across member states?

    • Greater wage flexibility
    • Lower production costs
    • Increased transport costs
    • Higher selling prices

  16. What is the primary function of a common external tariff in a customs union?

    • Abolished local taxes
    • Fixed exchange rates
    • Equalised wage rates
    • Standardised import taxes

  17. Why might a UK business establish a subsidiary inside the EU post-Brexit?

    • Bypass product safety
    • Avoid border friction
    • Avoid local taxes
    • Eliminate corporate overheads

  18. Which economic group features free trade between members and a shared external tariff on third-country imports?

    • Preferential trade zone
    • Economic alliance
    • Customs union
    • Free trade area

  19. How can political instability in an international trade partner directly affect a UK exporter?

    • Zero import duties
    • Lower exchange rates
    • Fixed consumer demand
    • Disrupted supply chains

  20. What key policy control does a nation give up upon adopting the Euro currency?

    • Monetary policy
    • Fiscal policy
    • Trade legislation
    • Direct taxation

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