Section 1 BUSINESS 0.0 / 5 ? Business Studiesstarting a businessA2/A-levelAll boards Created by: helena99777Created on: 04-07-20 14:50 What are the components of the external environment? competition, incomes, interest rates, demographic factors eg population, environmental issues 1 of 5 PESTLE factors Political, Economic, Social, Technological, Legal, Environmental 2 of 5 How does the external environment impact a business? It affects business costs and demand for a product 3 of 5 Factors that affect the demand for a product increase in price of the product, change in tastes, change in price of a substitute(think Aldi), advertising 4 of 5 affect of rise and demand on profits higher profits as more demand 5 of 5
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