Question

Is considered a major element of the economic environment

Answer 1

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★ The factors of the economic environment, in turn, impacts business performance, and business settings. Factors namely, taxes, government funding, trade aids are aspects that impact the economy. When government spending is higher, the economy gets stimulated.

Answer 2

Productivity is considered a major element of the economic environment.

What is an economic environment?

The environment which describes the country economically through the growth of GDP is known as the economic environment.

What are the types of economic environments?

• Rate of GDP: The gross domestic product provide information about all products that are produced in a country
• Inflation: The price of all products and services are increase then it is called inflation which affects the economic environment
• Balance Sheet: Through the balance sheet we analyze the assets and liabilities of the country