external influences Flashcards
1
Q
4 economic influences
A
exchange rates
recession
boom
tax rates increase
2
Q
when the pound appreciates
A
exports get more expensive so go down
imports get cheaper
3
Q
when the pound depreciates
A
exports get cheaper so sales go up
imports get more expensive
4
Q
inflation is
A
the sustained increase in the cost of living
5
Q
5 legislations
A
consumer protection employee protection environmental protection competition policy health and safety law
6
Q
a monopoly is
A
a market with one dominant business
7
Q
a oligopoly is
A
a market with a few large business
