U1AOS3 3D-3F Flashcards
(10 cards)
What are economic conditions?
The current financial state of the economy, including factors like employment, interest rates, and consumer confidence.
What is an interest rate?
The percentage charged on borrowed money. Affects loan repayments for businesses.
What is the employment level?
Percentage of the labour force employed. High employment can make it harder to find workers.
What is a tax rate?
The proportion of income or profit that must be paid to the government.
What is consumer confidence?
The level of optimism consumers have about the economy and their financial situation.
What are technological developments?
Innovations that improve business operations, production, or customer experience.
What are overseas competitors?
Businesses from other countries selling similar goods/services, often at lower costs.
What are overseas markets?
International markets where businesses can sell their goods/services to grow.
What is offshoring of labour?
Moving parts of operations overseas to lower costs, often for manufacturing or support services.
What is an exchange rate?
The value of one country’s currency compared to another. Affects import/export prices.
