Unit 1 - Business Activity and Influences on Business(External Factors)

Question 1

External factors

Answer 1

• Social
• Technological
• Environmental
• Political

Question 2

PEST Analysis

Answer 2

Political: Measure the degree of political stability and government intervention in economy.
Economic: Policies and factors have a great impact on businesses and their expansion.
Social: Have a great impact on buying patterns a behaviors of a nation which is an important determinant for businesses.
Technological: Aspect includes factors like level of R&D, automation, innovation and other related factors.