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EnglandBusiness

External environment

4 dot points across 4 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

How do ethics and social responsibility affect business decisions?

Business ethics and corporate social responsibility, including the trade-off between profit and ethical behaviour, the influence of stakeholders and pressure groups, sustainability and the environment, and the impact of ethical and unethical conduct on a business.
A focused answer to the OCR A-Level Business external-environment theme on ethics, covering business ethics and corporate social responsibility, the trade-off between profit and ethics, the influence of stakeholders and pressure groups, sustainability, and the impact of ethical and unethical conduct.
10 min answer →

How do government policy and the law affect businesses?

The impact of government policy and legislation on business, including fiscal and monetary policy, employment, consumer protection, competition and environmental law, and how businesses respond to political and legal change.
A focused answer to the OCR A-Level Business external-environment theme on government, covering fiscal and monetary policy, employment, consumer protection, competition and environmental legislation, and how businesses respond to political and legal change.
10 min answer →

How does the wider economy affect businesses?

The impact of the economic environment on business activity, including the economic cycle, economic growth, inflation, unemployment, interest rates and exchange rates, and how businesses respond to changes in these macroeconomic conditions.
A focused answer to the OCR A-Level Business external-environment theme on the economy, covering the economic cycle, economic growth, inflation, unemployment, interest rates and exchange rates, and how businesses respond to changes in these macroeconomic conditions.
11 min answer →

How do markets, competition and demand shape a business?

The external environment in which businesses operate, including market structures and the level of competition, the determinants of demand and supply and how price is set in a market, and the impact of competition and market conditions on business decisions.
A focused answer to the OCR A-Level Business external-environment theme on markets, covering market structures and the level of competition, the determinants of demand and supply, how price is set, and the impact of competition and market conditions on business decisions.
10 min answer →