What you'll learn
The external factors that affect businesses.
Key ideas
- Economic factors: interest rates, inflation, unemployment and exchange rates.
- Legislation: consumer and employment law.
- Technology, ethics and environmental pressures.
Exam tips
- Explain how each factor helps or harms a business.
- Use current, applied examples.
Common mistakes
- Describing factors without applying them.
- Ignoring both positives and negatives.