Enviroments and Other

Question 1

What is the external environment?

Answer 1

The factors outside a business that can affect its operation by influencing its activities and choices and determine its opportunities and risks

Question 2

What are the different environments?

Answer 2

-Political
-Ecomonimical
-Social
-Technological
-Legal
-Environmental

Question 3

What is the political environment?

Answer 3

-Government actions that impact decisions made by a business
-They can be made by local, national or international authorities

Question 4

What is the corporation tax in the UK and Ireland?

Answer 4

UK - 19%
Ireland - 12.5%

Question 5

What is the corporation tax in the USA

Answer 5

21%

Question 6

What are business grants?

Answer 6

Payments provided by either the government or private corporation for a specific purpose but you dont pay it back

Question 7

Advantages of Trading Communities

Answer 7

-Free trade within the bloc encouraging specialisation and trade (lower prices)
-Easier access to knowledge, workers and components
-Take advantage of favourable differences between members e.g. taxes or labour costs

Question 8

Disadvantages of Trading Communities

Answer 8

-Not all members have the same power
-May reduce trade with countries outside of the bloc
-May damage domestic industries

Question 9

What is consumer protection?

Answer 9

Making sure a business acts fairly towards their consumers