SECTION 1 BUSINESS 0.0 / 5 ? Business StudiesExternal influencesA2/A-levelAll boards Created by: helena99777Created on: 04-07-20 14:44 What are the components of the external environment? competition, incomes, interest rates, demographic factors, environmental concerns 1 of 6 PESTLE factors Political, Economic, Social, Technological, Legal, Environmental 2 of 6 How does the external environment impact a business? Affects business costs and the demand for the products and services 3 of 6 What are some factors that affect the demand for a product? increase in price, change in taste and fashions, change in the price of a substitute (Aldi products), marketing and advertising 4 of 6 Affect of rise and demand on growth businesses will need to grow quicker if there is more demand 5 of 6 Affect on rise and demand on survival business has more chance of survival if there is more demand 6 of 6
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