The presence or introduction of harmful substances into the air causing disease, allergies or damage to humans, animals, plants or the built environment.
Consumer law
Laws designed to ensure that businesses make products that are safe and of good quality, and that they deal with customers honestly and fairly.
Consumer spending
The money spent by households on goods and services to satisfy their needs and wants.
Contracts of employment
A legal document that sets out the terms and conditions of the job for the employer and the employee.
Disposal of waste
The removal, storage or destruction of unwanted material. Methods include recycling, burning and landfill sites.
E-commerce
Business transactions carried out electronically on the internet
Employment law
Rulings that relate to the rights and responsibilities of people who work for a business; they affect the recruitment and selection process and how the business deals with its workers.
Equality Act (2010)
Protects people from discrimination in the workplace and in wider society. It sets out the different ways in which it is unlawful to treat someone.
Ethical objectives
A business' goals that relate to fair business practice or moral guidelines and make a positive contribution to the business' reputation.
Ethics
The moral principles that guide how a business operates.
Exchange rates
The price of one currency based on another or the cost of buying one currency from another, for example £1 = $1.21.
Export
Good/service sold to a customer in another country.
Global warming
The steady increase in the earth's temperature due to emissions and the buildup of greenhouse gases, resulting in climate changes.
Globalisation
The trend for large businesses to operate on a worldwide scale; money, goods and services can be transferred across national borders.
Health and Safety at Work Act (1974)
Sets out the duties and responsibilities of both employers and employees for health and safety in the workplace.
Import
Good/service bought from a supplier in another country.
Interest rates
The rate charged for borrowing money over a period of time, or the reward for saving money.
Level of employment
The percentage of the population of working age that are employed.
M-commerce
Business transactions are carried out electronically by mobile phone.
National minimum wage/living wage
The lowest hourly rate that can legally be paid by an employer to an employee.
Noise pollution
A type and level of noise that is excessive and disturbing to people or animals.
Recycling
The conversion of waste into reusable material.
Risk
The possibility that the return on investment will be lower than expected
Sustainability
The process of operating without damaging the environment or depleting natural resources.
Traffic congestion
The effects of overuse of transport networks, for example slower speeds, traffic queues and longer journey times.
Waste
The unwanted material left over from the production process; it may have little or no value and the business may have to pay for its disposal.
Zero-hour contract
A contract of employment where the employer is not obliged to provide any minimum hours of work; the employee is not obliged to accept any work that is offered.
Digital Commmunication
The transmission of information electronically between computing devices.
Social Responsibility
An approach to managing businesses in which the interests of all groups in society are taken into account when making decisions.
External Costs
When business activities result in harmful effects on other people not directly involved in production.
Economic Climate
The state of key factors within a country such as the level of goods and services produced and the number of jobs available.
Multinational Company (MNC)
A company which produces goods and services in more than one country.
Inward Investment
When governments, businesses and individuals invest capital into another country.
Markets
Exist where there are buyers and sellers.
Competition
When more than one business is attempting to attract the same customers.
Uncertainty
Occurs when there is a lack of information about a situation. This means the outcome is difficult to predict.