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

What external influence on business relates to the overall state of the economy, including factors like inflation, GDP, and unemployment?

• Social media trends
• Economic conditions
• Governmental regulations
• Competitive pressures

Which of the following is an example of a legal influence on business?

• Changes in consumer preferences
• Environmental regulations
• Technological advancements
• Economic factors

Which type of business will benefit from customers having less disposable income?

• Travel agents
• Discount supermarkets
• Luxury clothing brands
• Furniture retailers

Which would be an appropriate way for a business to communicate with shareholders?

• App
• Social media
• Email
• Live chat

Which external influence on business relates to changes in how society perceives and values certain issues?

• Technological
• Social and cultural
• Economic
• Competitive

Which of the following is considered an external influence on business?

• Employee turnover
• Market demand
• Management style
• Product quality

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

Which type of organisation supports and represents its members and aims to improve their working conditions?

• A board of directors
• Human resources
• Trade union
• Independent collective

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