Unit 3 - Influences on Businesses

Question 1

Employment Laws are…?

Answer 1

Laws that protect the right of employees

Question 2

National Minimum Wage + National Living Wage

Answer 2

1. higher minimum wage to those above 25
2. all employees must receive the appropriate rate of pay as a minimum

Question 3

Equality Act, 2010

Answer 3

Cannot treat employees differently on the basis of (e.g):
1. age
2. gender
3. race
4. religion

Question 4

Health and Safety Law prevents…. and tries…

Answer 4

prevents business putting employees in danger, tries to stop accidents happening in the workplace

Question 5

Health and Safety at Work Act, 1974 provides…

Answer 5

1. safety equipment / clothing
2. writing and displaying a safety policy
3. protection from dangerous substances

Question 6

Consumer Laws are passed to protect consumers by…

Answer 6

by preventing unfair practices taking place

Question 7

Consumer Rights Act, 2015 covers? (2-4)

Answer 7

covers:
1. product quality
2. returning goods
3. repairs and replacements
4. delivery rights

Question 8

Benefits of Globalization (2)

Answer 8

1. rapid growth
2. cheaper resources

Question 9

Drawbacks of Globalization (2)

Answer 9

1. competition
2. threat of takeover

Question 10

Globalization affects on UK businesses (2)

Answer 10

1. improving design of products
2. quality and price

Question 11

Exchange rates

1. high
2. low

Answer 11

1. less consumer spending, higher cost of loans
2. more consumer spending, cheaper cost of loans

Question 12

Exchange rates:

1. rise
2. fall

Answer 12

() pounds needed to purchase goods

1. imports become cheaper
2. exports become expensive

Question 13

What type of business would benefit from higher interest rates?

Answer 13

1. budget supermarkets