Influences on Business 0.0 / 5 ? Business StudiesBusiness environmentGCSEAQA Created by: njmaccaCreated on: 30-04-19 11:15 What is a Monopoly? When a business does not face any competition within a market 1 of 10 Name an income-elastic product. Holidays, Room redecorations, Games consoles, Luxury items 2 of 10 In what year was the Health and Safety at Work Act passed? 1974 3 of 10 What is the current National Living Wage? (for those 25 y.o. and over) £8.21 per hour 4 of 10 What is an advantage to behaving ethically? Positive Publicity, Competitive edge, potentially higher price etc. 5 of 10 Do businesses benefit from high or low Interest Rates? Why? Low interest rates; due to increased consumer spending and decreased loan costs 6 of 10 Name one way businesses an benefit from low employment rates. High demand for jobs means people can be filled on lower wages without difficulty 7 of 10 If you are looking to import, do you want the pound to be weak or strong? Strong 8 of 10 Name one of the three criteria that businesses must meet under the Consumer Rights Act 1. Fit for purpose, 2. Matches Description, 3. Of Satisfactory quality 9 of 10 Name 3 Forms of Digital Communication Social Media, Websites, Email, Mobile Apps, Live Chats, Video Calls 10 of 10
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