Learning objective
Explain effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade.
Read the explanation, check the common trap, then practise with flashcards and questions.
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Topic
Political and legal change
Subtopic
Political and legal environment
Study support
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Quick explanation
Explain effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade
- This point belongs to Political and legal change, especially Political and legal environment.
- You need to be able to explain effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade.
- The key ideas to know are legislation.
- Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.
Key concepts
Why it matters
This objective helps connect Political and legal environment to exam-style questions, flashcards, and revision notes for Political and legal change.
Quick student answer
What are the effects of effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade in Political and legal change?
Direct answer
For Business, this page helps you revise effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade in Political and legal change. Focus on the key terms, the exam command, and a clear answer that matches the question. Key terms to check are business change and Political and legal environment.
Key terms
- business change: business change is a Business concept used to analyse Explain effects of laws and policy related to competition, labour markets, environmental legislation, enterprise, regulators, infrastructure and international trade.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.
- Political and legal environment: Political and legal environment should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.
- legislation: legislation affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.
- business change decision: business change decision has a financial impact when it changes costs, revenue, profit, cash flow, investment return, break-even output or ratio interpretation.
Common trap
Political and legal environment common mistake 1: Show the method first, then give the final answer in the required form. Apply this directly to Political and legal environment.
Related questions
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Flashcard prompts
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Revision tools
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Revision notestopic notes
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Open revision notesRelated learning objectives
- Analyse the impact of political and legal change on strategic and functional decision making.
Political and legal environment