Essay
Unit 1 - P5 and M2
- Institution
- PEARSON (PEARSON)
BTEC Business Level 3 Unit 1 P5 M2 Long essay which matches the criteria to achieve the highest possible grade. Overall grade achieved - D*
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By: paul1211 • 6 year ago
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Unit 1 – P5 M2Mahbub Rahman
,Mahbub Rahman - Unit 1 - P5 M2
Table of Contents
Introduction .............................................................................................................................................2
Economic data of the United Kingdom and India ....................................................................................2
United Kingdom ...................................................................................................................................2
India .....................................................................................................................................................3
Influence of different economic factors on the business ....................................................................3
Impact of a boom/recession ....................................................................................................................8
Bibliography ...........................................................................................................................................12
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, Mahbub Rahman - Unit 1 - P5 M2
Mahbub Rahman - Unit 1 - P5 and M2
Introduction
In this article, I will compare two different economic environments while focusing on
Mercedes-Benz. Mercedes-Benz is headquartered in Germany, but I will focus on the
economic environments of the United Kingdom and India. Mercedes-Benz is an automotive
company, which operates in all areas of the world. I will be discussing different economic
factors and how these things affect the business. This article was written in August 2016, so
the economic data in this article is from that time period (unless the data is specifically said
to be from a different time). I will then draw up a table talking about the how different
economic factors are affected in a boom and a recession.
Economic data of the United Kingdom and India
United Kingdom
Through research, I have found that the United Kingdom is the fifth-largest national
economy measured by nominal GDP (gross domestic product), covering 4% of the world
GDP, and the ninth-largest in the world measured by PPP (purchasing power parity). GDP is
the monetary value of all finished goods and services within a country’s borders in a specific
time period. PPP is a theory that discusses the way exchange rates between different
currencies are equal when their purchasing power is equal. For example, 1 British Pound (£)
= 1.3 US Dollar ($), 1 basket of goods = £100 in Britain so it should cost $130 in the US
(meaning there is PPP). The data in the graph below shows an overview of the United
Kingdom’s economy.
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