AOS 3

Question 1

Societal attitudes and behaviours

Answer 1

Values and beliefs and trends

Question 2

values and beliefs

Answer 2

shared principles and morals of a group of people or society.
-learned through life
-inform acceptable and appropriate
-need to be considered during business planning

Question 3

Trends

Answer 3

general direction in which people’s attitudes or behaviours in society are changing or developing
1. demographics
2. family friendly and flexible workplaces

Question 4

Economic conditions and influences

Answer 4

interest rates, employment levels, tax rates, business and consumer confidence levels

Question 5

interest rates

Answer 5

cost of borrowing
usually expressed in annual percentage
lower interest costs = more spending money

Question 6

employment levels

Answer 6

fluctuate with business cycle
higher wages to attract

Question 7

tax rates

Answer 7

represent cost for businesses
percentage of income or value of a good or service

Question 8

business and consumer confidence levels

Answer 8

how business and customers feel about economy
what consumer high, generally optimistic about financial situation

Question 9

recessionary cycle

Answer 9

contracting eco- consumer more cautious- fall of profits- cost cutting workers retrenched

Question 10

boom cycle

Answer 10

expanding eco- confidence levels up- increased profits- more workers

Question 11

economic conditions meaning

Answer 11

economic activity in country, region or the world

Question 12

graph

Answer 12

sales on side time of bottom
peak top
trough bottom
expansion going up
contraction going down

Question 13

non-financial goals

Answer 13

social goals
-eco sustainability
-social justice
-community service
personal goals
-higher income
-improve finance security