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WorksheetsBTEC - Internal / External factors
Total questions: 30
Worksheet time: 15mins
What can an enterprise do to try and manage external factors?
Have a contingency plan
Increase their price
Go into liquidation
Report the external factors to the police
Costs can go up or down – this is referred to as a _____
start up cost
fixed cost
gross profit
fluctuation.
_____ are all the elements that go into making products or offering services.
External factors
Raw materials
Internal factors
Economic conditions
When an enterprise borrows money, they will pay _____.
VAT.
corporation tax.
an interest charge.
the minimum wage.
If the interest rate goes up, an enterprise must _____
pay more interest.
pay higher VAT rates
pay higher corporation tax rates.
pay less interest.
The UK government often makes changes that have a _____________.
minuscule impact on enterprises.
positive impact on enterprises.
negative impact on enterprises.
positive or negative impact on enterprises.
What does the S in SWOT analysis stand for?
Sales
Strengths
Service
Sector
What does the W in SWOT analysis stand for?
Weaknesses
Wages
Weighted
Withdrawal
What does the O in SWOT analysis stand for?
Optimistic
Optional
Opportunities
Openness
What does the T in SWOT analysis stand for?
Tastes
Taxation
Technological
Threats
If the economy is struggling, the UK may enter a ____.
economy.
era of prosperity.
recession.
target market.
Which of the following is an external factor?
Researching the market
Keeping customer satisfied
Understanding the market
Consumer behavior
Which of the following is a raw material for Coca Cola?
Insurance fees payable
Cost of equipment
Sugar
Interest rates
Which of the following is a raw material for McDonalds?
Beef
Interest rates
The minimum wage
Energy costs
_____ is the money made from selling a product after the cost of sales have been deducted.
Variable costs
Fixed costs
Gross profit
Sales revenue
A ____ is the sum of money borrowed that is expected to be paid back to the lender.
fluctuation
loan
refund
raw material
_____ is the amount of money an enterprise must pay the government each year based on how much profit they made.
Taxation
Minimum wage
Interest rate
Gross profit
In a recession ______
people feel confident about the future.
people worry about whether their jobs are safe.
people spend more money.
employment levels are very high.
In a recession _____
people have more disposable income.
people tend to buy more luxurious items.
people buy more expensive items.
people only spend money on essential things.
If consumer confidence is high _____
people worry about how safe their jobs are.
people prefer to save their money.
people are happier to spend their money.
people feel less confident about their future.
______ is the system by which a country's money and goods are produced and sold.
An economy
An enterprise
A consumer environment
A premises
_____ are the trends or fashions that a consumer may follow.
Government regulations
Competitors
Legislation
Tastes
_____ relates to the laws of a country, which everyone must obey.
Legislation
Consumer behavior
Consumer confidence
Market rivalry
Which one of the following is an internal factor?
Cost of raw materials
Keeping customer satisfied
Consumer legislation
Consumer confidence
Which one of the following is an internal factor?
Effective planning and financing
Consumer confidence
Changes in taxation
Interest rates
Changes in technology can shorten ____
market share
product life cycles
Porter's Five Forces
Ansoff's Matrix
Developments in technology can mean that a business replaces ____
directors with shareholders
sustainability with ethics
strategy with objectives
labour with machinery.
The population in the UK is ageing. This is a ____ factor.
social
economic
political
legal
People are becoming _____
more competitive
less health conscious.
more health conscious
more consolidated
High unemployment rates is an example of ____
a legal factor
the changing competitive environment.
prosperity.
an economic factor.
