Question

significance and elements of economic environment​

Answer 1

Explanation:

Economic environment those economic factors which have their affects on the working of the business is known as economic environment.It includes system, policies and nature of an economic trade cycles,economic resources level in income, distribution of income and wealth etc.......

Answer 2

Economics environment refers all economics surroundings that influence organization activities.

Explanation:

• Important elements of economic development are Economic systems, Economic policies, Economic conditions and Regional economic groups.
• Economic system determines the scope of private sec tore ownership of the factors of production and market forces. Policies are guidelines for decision making and action.
• Economic policies of the government significantly influence and guide organizations. Economic conditions indicate the health of the economy in which the organization operate.
• Regional economic groups promote cooperation and free trade among members by removing tariff and other restrictions.They provide opportunities to member countries and threats to non-member counties.

To know more:

Elements of economic environment​

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