Edexcel GCSE Business Topic 1.5 Understanding external influences overview quiz quiz

A tariff

A break-even point

An employee

An overdraft

Owners want lower selling prices while employees want higher selling prices for the goods

Both groups always want exactly the same things from the business at all times

Employees are the ones who decide and set the dividends paid out

Owners want higher profit and may cut wages, while employees want higher pay and security

E-commerce

A trade bloc

A tariff

Unlimited liability

Only ever cutting the costs of a business and never adding any

Cutting some costs but adding others such as websites and IT

Removing every single cost the business has to pay

Having no effect at all on any of the business's costs

Refunds for faulty goods

Tariffs on imports

Health and safety

Exchange rates

Always the very cheapest goods that are available anywhere

Made only in the UK and nowhere else in the world

Sold only online and never in physical shops

Of satisfactory quality, fit for purpose and as described

Cost of complying versus the worse consequences of not complying

Whether the business should try to make any profit at all this year

Whether the business should bother to have any customers at all

Whether the business should use the internet for anything

Make borrowing cheaper and increase how much customers spend overall

Increase loan repayment costs and reduce customer spending

Have no effect at all on a heavily borrowed-up business

Always increase a business's profit no matter what

More expensive for buyers abroad

Illegal to sell in foreign markets

Cheaper and more competitive abroad

Exactly the same price as before abroad

Lowering its costs and raising the real spending power of its customers

Having no effect at all on the business's costs or its demand

Guaranteeing the business much higher profits

Raising its costs and reducing customers' real spending power

How the business responds to them

Ignoring them all completely

Setting the whole country's tax rates

Removing every single competitor

A government department responsible for setting and collecting taxes from firms

An organisation that campaigns to influence businesses on a particular issue

A particular type of long-term bank loan

A specific method of mass production