Economic change Key Terms

business change

business change is a Business concept used to analyse Analyse how changes in the UK and global economy affect strategic and functional decision making.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

Economic environment

Economic environment should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

analyse

analyse affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.

changes

changes has a financial impact when it changes costs, revenue, profit, cash flow, investment return, break-even output or ratio interpretation.

global

global becomes evaluative when advantages, disadvantages, risk, opportunity cost and business context are weighed rather than listed separately.

business change

business change is a Business concept used to analyse Interpret economic data relating to GDP, taxation, exchange rates, inflation, fiscal policy, monetary policy and open trade versus protectionism.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

Economic environment

Economic environment should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

GDP

GDP affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.

taxation

taxation has a financial impact when it changes costs, revenue, profit, cash flow, investment return, break-even output or ratio interpretation.

exchange rates

exchange rates becomes evaluative when advantages, disadvantages, risk, opportunity cost and business context are weighed rather than listed separately.