Essay about Economic Factors

Submitted By Kabz999
Words: 362
Pages: 2

BTEC National in Business

Level 3

Unit 1 The Business Environment

(P5)
In this task, you need to describe the influence of two contrasting economic environments on business activities within a selected organization.

Scenario
You are still working at ‘Business Education in Schools’. Your handbook for students on organisational structures and functional areas was very successful and several schools have ordered copies. The posters were also a great success. Your manager now informs you that a customer has placed an order for materials to help him deliver topics on ‘the economic environment’. Your manager asks you to create these materials and has requested for you to create another handbook and more posters. To complete the handbook and posters, your manager requests that you research and describe one of the organisations you have previously used.

To successfully achieve P5, you need to do the following:

Instructions for handbook

a) Complete a title page for your handbook
b) Write an introduction for your handbook which describes what the economy is and what it involves
c) Illustrate and describe the different stages in an economic cycle
d) Write a short paragraph to introduce the different economic factors that could affect a business (interest rates, inflation, demand and supply, labour, government policy)
e) Briefly describe each economic factor
f) Write a brief introduction about the organisation you are focusing on which describes who they are and what…