Environmental concerns and sustainability can influence a business through:

  • Changes in employee turnover
  • Altering the company's recruitment strategy
  • Shaping product design and production processes
  • Improving workplace safety

Which law requires goods and services to be "fit for purpose"?

  • Health and Safety at Work Act (1974)
  • Labelling of Food Regulations (1970)
  • Consumer Rights Act (2015)
  • Weights and Measures Act (1986)

The legal requirement to list nutrition information on food packaging is an example of which influence on business?

  • Social
  • Competitive
  • Technological
  • Legal

What term is used to describe the cost inclurred when borrowing money?

  • Overdraft
  • Mortgage
  • Interest
  • Finance

What would be the benefit to a business of promising to ban testing on animals?

  • Lowering costs
  • Improved publicity
  • Increasing production
  • Reducing variable costs

If prices rise faster than customer income…

  • … sales of luxury goods will increase
  • … customers will have more money to spend on things they need
  • … customers will have less to spend on things they want
  • … sales of luxury goods will increase

In a competitive market, why is price an important factor?

  • Luxury goods will always be of high value
  • Customers will shop at the lowest-priced business
  • There are a reduced number of high street stores
  • M-commerce is reducing demand for physical stores

A change in consumer preferences for organic and sustainable products is an example of which influence on businesses?

  • Social and cultural influences
  • Economic conditions
  • Governmental regulations
  • Technological advancements

Which is an advantage of trading online?

  • Firms adapting to sell online
  • Cost of setting up an online store
  • Development of new procedures to process online orders
  • Wider market reach

A company's focus on reducing waste and energy consumption in its operations is influenced by:

  • Competitive pressures
  • Environmental sustainability concerns
  • Technological advancements
  • Employee morale