How does economic environment affects the business decision of a firm?
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Answer:
All businesses operate in an externalenvironment where different factors, or sets of environments, affect them and are often out of the control of thebusiness. ... It also involves microeconomic factors, such as the supply, demand and prices for goods and services offered by firms and purchased by consumers.
Economic environment:All businesses, whether domestic or international, are affected by the dynamic economic environment conditions prevalent in Businesses do not operate in a vacuum. They are subject to their external environments. In this lesson, you'll learn about the legal and Environment includes such factors as socio-economic, considerable influence on business. The third feature is that a particular business firm, by itself, may not economy. It must be stressed that the impacts of the dynamic factors unique to the playing field for international business are felt in all economic environment
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