Next steps lesson

Next steps lesson

Come on! Lets do this thing!

Poll

How are you feeling today?

Multiple Choice

What is an external factor?

• Something the business can control

• Something outside the business window

• Something the business cant control

Multiple Choice

Which of the following is an example of an economic external influence?

• Increase in the national minimum wage

• Increased availability of wi-fi

• Increase in interest rates

Multiple Select

Which of the following is an example of a political external influence

• Increase in interest rates

• Change in lifestyle

• Increase in the national minimum wage

Multiple Choice

Which of the following is an example of a social external influence?

• Recession

• Changes in fashion trends

• Bad weather

Multiple Choice

Which of the following is an example of a technological external influence?

• Competitors launch a new advertising campaign

• Increased availability of mobile technology

• Recession

Multiple Choice

Which of the following is an example of a competitive external influence?

• Recession

• Increased availability of mobile technology

• A shop selling similar products reduces its prices

Multiple Choice

Which external factor might lead to increased recycling and reduced packaging?

• Economic

• Competitive

• Environmental

Multiple Choice

What is an ‘exchange rate’?

• A general and sustained increase in prices

• The cost of borrowing money

• The price of one currency in terms of another currency

Multiple Choice

The exchange rate changes from £1 = €1.20 to £1 = € 1.30. What has happened?

• The pound has appreciated against the euro

• The pound has weakened against the euro

• The pound has depreciated against the euro

Multiple Choice

What is meant by high unemployment

• When a high number of people in the country do not have a job

• When a high number of people in the country do have a job

Multiple Choice

What is meant by consumer spending?

• the average amount a business makes per yr

• The amount of money the average consumer spends

• The amount someone gets paid for doing a job

Multiple Choice

What is meant by redundancy?

• Where someone gets sacked

• people whose last job ended because there is no further need for their role

Multiple Choice

What is meant by inflation

• a decline in prices over time

• a rise in prices over time

Multiple Choice

What happens when there is inflation?

• Prices stay the same

• Prices fall temporarily

• Purchasing power decreases

Multiple Choice

What impact could inflation have on a business?

• Increase in sales as consumers have more disposable income

• Prices of raw material rise, so the cost of producing goods is more expensive

• Customers buy more as consumer spending goes up