Business LO5

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What is the External Influence 'GDP' about?

GDP is the total amount of goods and services made in country. it stands for 'Gross Domestic Product'

What are External Influences in terms of a business?

External influences are things outside the control of a business that can affect the success of a business

What are interest rates?

When a business borrows money, they have to pay interest. Banks apply interest to businesses and the public as a bonus for saving money with their bank