Explain the reason s why socio-economic issues pose challenges to business
Answers
Answer:
Some of the factors and their connection to businesses:
Interest Rates. Interest rates are everywhere, and are imposed by many different people. ...
Exchange Rates. ...
Recession. ...
Social Status and Income. ...
Education Level. ...
Physical Environment. ...
Social Support Network. ...
Genetics.
Answer:
Businesses and socio-economic issues are both an integral part of society and hence have dynamic relationship with each other in myriad of ways, as explained below.
Explanation:
i) Socioeconomic issues shape the financial status of a society, which is the consumer group of businesses. The consumer demand is closely associated with these issues.
ii) Socioeconomic issues impact on the investment availability and capacity of businesses.
iii) The natural resources and human resources, which are crucial for businesses, are affected by socioeconomic issues.
iv) There are other nuanced factors which also affect businesses such as interest rates, exchange rates, etc.
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