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Question
Attempt the following:
Economic Environment.
Solution
The economic environment comprises economic condition economic policies and economic systems which are the important factors influencing development and trade cycles, national income, etc.
(1) Economic Condition: If refers to the present state of the economy of a country or region based on the gross domestic product, per capita income, availability of capital, etc.
(2) Economic Policies: The government frames economic policies from time to time influencing business activities. In order to control the business in the interest of the politics. e.g.- Intestinal policy, monetary policy foreign investment policy, etc.
(3) Economic System: It refers to the scope of private business and extent of government regulation on economic activities determines the nature of the economic system i.e. capitalist social or mixed economic
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| Column I | Column II | ||
| (a) | Complexity | (i) | Very difficult to predict future happenings |
| (b) | Specific forces | (ii) | Easier to understand in parts but difficult to grasp in its totality |
| (c) | Uncertainty | (iii) | Affect individual enterprises directly and immediately |
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| Column I | Column II | |
| (i) | Complexity | Very difficult to predict future happenings. |
| (ii) | Specific forces | Easier to understand in parts but difficult to grasp in its totality. |
| (iii) | Uncertainty | Affect individual enterprises directly and immediately. |
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