Exam-style question
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Explain how you would explain how competition, market conditions, incomes, interest rates and demographic factors can influence business costs and demand. in the context of Business and the external environment.
Model answer
What a good answer should say
- A strong answer should clearly explain how competition, market conditions, incomes, interest rates and demographic factors can influence business costs and demand.
- using accurate business vocabulary and direct links to External influences on costs and demand.
Explanation
Why this works
This exam-style question is aligned to the approved learning objective for External influences on costs and demand and expects a structured business explanation rather than a single fact.
Common mistake
No common mistake is linked to this question yet.