Business GCSE
Uncertainty
What Uncertainty means in Business GCSE, as defined for AQA.
Definitions of Uncertainty
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Reference: AQA
When the outcome is unknown or unpredictable, such as changes in consumer tastes, economic conditions, new technology or government policy.
A business cannot know in advance what will happen, and in a competitive environment it often comes from rivals' actions.
External events that are unpredictable and cannot be accurately measured or foreseen.
Topics that use Uncertainty
- Competitive environment (AQA GCSE)
- Influences on business (AQA GCSE)
Related terms
- Unique Selling Point (USP)
- Adapting the marketing mix to external pressures
- Application of business concepts to context
- Batch Production
- Buffer stock
- Business ethics
- Business operations
- Business response
Using Uncertainty in the exam
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