Revision Notes

Current external events to watch and how this affects the syllabus

Single currency: exchange rate: international trade; employment and interest rates.
GM food protests: pressure group; external environment and its influence on internal.
Stock market collapse especially in Tech stocks: effects sources of finance; business confidence; consumer purchases
Internet developments: affects products (WAP phone) also marketing - communications.
Internet shopping - effects staffing; investment and security issues about the Internet; types of goods sold. Creates jobs though: web designers; site maintainers.
American election: affects investment owing to differing impact of Gore and Bush on markets. Even when resolved there will be uncertainty as neither are truly representative - and will the true result ever be known?
Human Rights Act - effect (untested) on employer/employee relationship and who can do what?
Interest rates: may be raised by Bank of England if they think inflation will rise. This will affect investment; employment; savings/consumption; house prices. Also know the 'impact on a business' (see earlier).
House prices: effects investment and consumer-purchase. A slowdown in the economy will lead to redundancies and thus a fall in demand…profits and more investment.
Blair re-election: feeling of alienation by electorate? Crime figures? Rise in disenchantment by the young? All of this will affect social harmony and stability.