2.3.5 - External influences

Analyse business effects of inflation, exchange rates, interest rates, taxation, government spending and the business cycle.

Use a - economic influences to connect the rule to the data and decision in the question.

This matters because a - economic influences determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - economic influences to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Economic influences is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Analyse effects of consumer protection, employee protection, environmental protection, competition policy, health and safety and intellectual property rights.

Use a - legislation to connect the rule to the data and decision in the question.

This matters because a - legislation determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - legislation to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Legislation is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Analyse effects of competitor numbers, size and behaviour.

Use a - competition effects to connect the rule to the data and decision in the question.

This matters because a - competition effects determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - competition effects to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Competition effects is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Evaluate ways for a small business to compete in a competitive market.

Use b - small business competition to connect the rule to the data and decision in the question.

This matters because b - small business competition determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - small business competition to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Small business competition is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.