Understanding the nature of the national environment in which businesses operate
You will need to:
? explain how economic systems attempt to allocate resources effectively
? assess the impact of fiscal and monetary policy on business organisations and their activities
? evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation

Understanding the behaviour of organisations in their market environment
You will need to:
? explain how market structures determine the pricing and output decisions of businesses
? illustrate the way in which market forces shape organisational responses using a range
of examples
? judge how the business and cultural environments shape the behaviour of a selected organisation

Assess the significance of the global factors that shape national business activities
You will need to:
? discuss the significance of international trade to UK business organisations
? analyse the impact of global factors on UK business organisations
? evaluate the impact of policies of the European Union on UK business organisations.