explain the impact of economic environment on business
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Answer:
All businesses, whether domestic or international, are affected by the dynamic economic environment conditions prevalent in the market. Among many economic factors affecting business some are; interest rates, demand and supply, recession, inflation, etc. Let us take a look at such economic factors.
All businesses want to maximize on their profits. All this can be achieved by analysis of demands of consumers, provision of appropriate supplies to them and the maintenance of high quality of goods and services. As simple as this operation is, many factors affect it. The sales, production and procurement processes of a business are greatly impacted by these economic elements. Below is a list of economic factors that affects businesses. Consider, all of them are interconnected.
Answer:
Hey mate here is your answer
All businesses, whether domestic or international, are affected by the dynamic economic environment conditions prevalent in the market. Among many economic factors affecting business some are; interest rates, demand and supply, recession, inflation, etc. Let us take a look at such economic factors.