Factors Influencing Business Operations

Which of the following is an example of an economic factor that can influence business operations?

• The introduction of a new social media platform

• Changes in interest rates

• A new environmental protection law

• A shift in consumer fashion trends

How can technological advances impact businesses?

• By increasing the cost of raw materials

• By improving production efficiency

• By reducing the need for legal compliance

• By decreasing global competition

Which of the following is a legal regulation that businesses must comply with in Australia?

• The requirement to use renewable energy sources

• The obligation to pay Goods and Services Tax (GST)

• The need to follow global fashion trends

• The mandate to use the latest technology

Social trends can influence business operations by:

• Increasing the cost of production

• Shaping consumer preferences and demand

• Reducing the need for skilled labour

• Limiting access to international markets

What is an example of environmental impact affecting business operations?

• A new competitor entering the market

• A change in the minimum wage

• The introduction of carbon emission regulations

• The launch of a new smartphone model

Globalisation can affect businesses by:

• Increasing local competition only

• Limiting access to international markets

• Providing opportunities for international expansion

• Reducing the need for technological innovation

Which economic factor is most likely to affect consumer spending?

• Advances in artificial intelligence

• Changes in employment rates

• New environmental laws

• Social media trends

How might technological advances lead to changes in the workforce?

• By increasing the number of manual labour jobs

• By reducing the need for skilled workers

• By creating new job opportunities in tech industries

• By eliminating the need for any human workers

Which of the following is a legal regulation that could impact business operations?

• A new fashion trend

• A change in tax legislation

• A technological breakthrough

• A shift in consumer preferences

Social trends can lead to changes in business operations by:

• Increasing the cost of raw materials

• Influencing product design and marketing strategies

• Reducing the need for environmental compliance

• Limiting technological innovation