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1.5.5. External influences GCSE Business Edexcel Flashcards | StudBud
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1.5.5. External influences GCSE Business Edexcel
1.5.5. External influences GCSE Business Edexcel
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1.5.5. External influences GCSE Business Edexcel
Flashcards
12 cards
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Questions
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Answers
1
Select THREE potential consequences of the National Minimum Wage.
A business may need to reduce costs elsewhere in the business
A business may raise their prices
A business may reduce the number of staff they employ
A business may have happier employees
2
Select TWO impacts ICT has on operations in a business
ICT tools facilitate secure online payment systems
Technology now allows employees to work from anywhere in the world
There is a reduced need for physical stores
allows employees to train & upskill using online training programmes
3
Typically, a rise in disposable income, leads to a decrease in consumer spending.
False
True
4
Select THREE impacts ICT has on marketing in a business
Social media is increasingly used to advertise online
Businesses are using apps & loyalty cards to track customer spending habits
Sending targeted emails can improve customer loyalty
Businesses that operate solely online are able to reduce running costs
5
Entrepreneurs and business leaders must stay updated on the latest technologies due to rapid advancements.
False
True
6
Which of the following best describes the relationship between businesses and legislative changes?
Businesses have complete control over legislation changes
Businesses have limited control over changes to law and must abide by them
Legislative changes have minimal impact on businesses
Legislative changes are primarily influenced by businesses' preferences
7
Which of the following external factors can significantly impact a business's decisions and activities?
Changes in employee morale
Updates to company policies and procedures
Variations in office layout
Fluctuations in market demand
8
Fire legislation is an example of...
Environmental law
Health and Safety law
National minimum wage
Equality law
9
The lower the value of the £, the less imported goods cost.
True
False
10
Which statement best highlights the advantage of new technology for businesses?
Delayed response to new technology minimises risks
Slow reactions to new technology guarantee long-term success
Quick adaptation to new technology can lead to a competitive edge
Rapid response to new technology increases market competition
11
When unemployment is high, spending in the economy increases.
False
True
12
When interest rates rise, businesses may borrow less money and reduce investment in the business.
True
False
