economic - answer✔factors that influence how resources are allocated in society and impact on
investment and consumption decisions [PESTLE]
[3.1.4]
social - answer✔characteristics of society and trends in consumer behaviour that influence the
behaviour of businesses and their customers [PESTLE]
[3.1.4]
technological - answer✔scientific advancements that influence behaviour of businesses and
their customers [PESTLE]
[3.1.4]
legal - answer✔the collection of legislation that impact on the activities of organisations
[PESTLE]
[3.1.4]
environmental - answer✔external influences linked to the natural environment that impact
behaviour of individuals to reduce the negative impacts on the natural environment [PESTLE]
[3.1.4]
economies of scale - answer✔advantages of a business when unit costs fall as scale of
production increases.
3|Page
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