level: Level 1
Questions and Answers List
level questions: Level 1
| Question | Answer |
|---|---|
| factors affecting a business | 1. unemployment 2. inflation 3. economic trends and gov policy 4. interest rates 5. taxation 6. exchange rates 7. competition 8. population trends: demographic change 9. health and safety 10. education and training 11. enterprise culture and support 12.market trends 13. globalisation |
| why does interest affect a business? | If interest rates are high, the cost of borrowing money increases. |
| what is globalisation | the process whereby the world becomes one big market. It is the spread of technology, for example. |
| whats a trade bloc | group of countries that work together to provide special deals for trading |
| whats free trade | a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs |
| whats enterprise | a general term for the driving force behind business growth. |