Economic Influences
What is The Consumer price index?306
Two(or more) businesses agreeing to restrictive practices, such as price fixing.
What is collusion?317
The following are examples of what?
Develop a market niche, be flexible, offer personal service, offer lower wages, have better communication, be innovative.
What are ways a small firm can compete in a competitive market?322
From which state in the USA did Ms.Bradley relocate to Spain from?
What is Kansas?
the effect that inflation typically has on a business.
What are Increased costs/uncertainity?296
name two ways in which intellectual property might be protected.
what are Automatic protection & patents and/or trademarks?316
One of the most important external influences face by a business.
what is competition/ the competitive environment?319
The name of Ms.Bradleys son.
Who is Tucker?
Boom, Downturn, Recession or depression, recovery or upswing
What are the four different phases of the business cycle?304
the following are examples of what?
Consumer rights, product safety, product quality, trading and age restrictions, promotion and advertising, prices and payment methods.
what is consumer protection?308
if possible, many businesses will try to differentiate their products from those of rivals.
What is product differentiation? 321
This type of food is famous where Ms.Bradley is from.
What is BBQ?
The peak of the business cycle. The GDP is growing fast because the economy is doing well.
What is meant by a boom in the economy?304
a wage rate set by the government below which it is illegal to pay people at work
What is National minimum wage?310
the ability to be able to adapt to change more quickly.
What is flexibility?322
This is Ms.Nicholes favorite drink?
what is coffee?
A rise in the value of a currency.
What is appreciation/appreciated?306
favouring one person over another.
What is discrimination?317
a small market segment/ a segment which has sometimes gone untouched by larger businesses
What is a market niche?322
the following are examples of what?
baking & reading
What are Ms. Nicholes favorite hobbies?