Question

4. State the constituents of the economic environment. Explain how to do these influence an economy

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Answer 1

Answer:

India's economy is considered as a developing economy. It is also regarded as a mixed economy, which means that public and private sector co-exist to meet consumer demand, provide employment and facilitate the growth of our economy. Indian economy is still predominantly dependent on agriculture and its allied sectors for most parts. Some other basic characteristics of Indian economy are – low per capita income, income inequality, high unemployment rate, etc.

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Answer 2

Answer:

The links between the economy and the environment are manifold: the environment provides resources to the economy, and acts as a sink for emissions and waste. ... Poor environmental quality in turn affects economic growth and wellbeing by lowering the quantity and quality of resources or due to health impacts, etc.

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