Key Terms - Unit 1.3 - Understanding That Businesses Operate Within An External Environment Flashcards
1
Q
Demand
A
The amount of a product that consumers are willing and able to buy at any given price over a period of time
2
Q
Market Conditions
A
The relative attractiveness of the external market in which a business operates
3
Q
Interest Rates
A
The cost of borrowing money and the return for lending money
4
Q
Demographics
A
The characteristics of human populations and population groups; it includes analyses of a range of elements including migration trends, births and death rates, trends in age, ethnicity and gender, levels of education, marital status and size of family
