2D

Question 1

Economic conditions

Answer 1

economic conditions are the status of a country’s financial stability and security.

Question 2

Interest rate

Answer 2

An interest rate is the price paid for money that has been borrowed that is expressed as a percentage.

Question 3

Tax rate

Answer 3

A tax rate is the percentage of compulsory payment made to the government.

Question 4

Business confidence

Answer 4

Business confidence is a measure of business owners; expectations and feelings about future economic conditions.

Question 5

Consumer confidence

Answer 5

Consumer confidence is a measure of customers’ expectations and feelings about future economic conditions

Question 6

Goods and Services Tax (GST)

Answer 6

Goods and Services Tax (GST) is a compulsory payment made to the government based on the value of most goods and services sold.

Question 7

theory summary

Answer 7

Current an future economic conditions can have a significant influence over the success of a business.
Individuals should consider how economic conditions will affect their business and plan accordingly.

Question 8

Factors that business owners should consider include .

Answer 8

.Interest rates (are the percentage of interest paid on a loan).
.Tax rates (are the percentage of tax charged by the government on items such as income).
.Business are consumer confidence
( is business owners ‘and customers’ expectations of future economic performance).