year 2

Question 1

what is fiscal and monetary policy

Answer 1

FISCAL - the use of government spending, taxes and borrowing to achieve relevant economic objectives
Monetary policy - the use of interest rates and changes to the money supply to chai eve relevant economic factors

Question 2

what is Kaplan and Norton balanced scorecard model

Answer 2

considers financial and non financial elements of business performance. The idea that you must balance the financial, internal business processes, learning and growth and customers to have a successful business

Question 3

Elkingtons triple bottom line model

Answer 3

assesses businesses performance regarding the profit, social and environmental responsibility

Question 4

How can legislation affect businesses

Answer 4

• fair trading act- consider takeovers, anti competitive acts, investigate existing monopolies
• minimum wage act
• equal pay act