Paper 1 - Understanding External Influences On Business Flashcards
PRESSURE GROUPS
Organisations formed to put forward a particular viewpoint, such as promoting organic farming
STAKEHOLDERS
All those groups with an interest in the success or failure of a business.
E-COMMERCE
Selling online rather than in a physical one to one transaction.
SOCAIL MEDIA
Interactive channels of communication.
DIGITAL COMMUNICATION
Messages or conversations conducted via email, text or social media.
PAYMENT SYSTEMS
Ways of paying electronically such as PayPal or Apple Pay.
CONSUMER LAW
Acts of Parliament that are intended to protect customers from misleading or dangerous practises by companies.
CONSUMER RIGHTS
Laws that empower the consumer to demand certain minimum standards from every business supplier.
LEGISLATION
Laws passed by acts of Parliament; breaking 5hese laws may result in a fine or even a prison sentence.
RED TAPE
The term given to laws that tie the hands of business people and make it hard entrepreneurially.
CUSTOMER SPENDING
The total spent by all shoppers throughout the country.
EXPORTS
Goods produced I. One country and sold overseas.
RECESSION
A downturn in sales and output throughout the country, often leading to a rise in unemployment.
CONSUMER INCOMES
The amount households have available to spend after income taxes have been deducted.
EXCHANGE RATE
The value of one currency measured by how much it will buy of other currencies.
INFLATION
The rate of increase in the average price level.
INTEREST RATE
The annual cost of a loan to the borrower.
TAXATION
Charges placed by government on goods and the incomes of individuals and companies.
UNEMPLOYMENT
When someone at workin* age wants a job that cannot get one.
ECONOMIC CLIMATE
Like the weather the economy can run hot or cold.
