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Question
Attempt the following:
Economic Environment.
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Solution
The economic environment comprises economic condition economic policies and economic systems which are the important factors influencing development and trade cycles, national income, etc.
(1) Economic Condition: If refers to the present state of the economy of a country or region based on the gross domestic product, per capita income, availability of capital, etc.
(2) Economic Policies: The government frames economic policies from time to time influencing business activities. In order to control the business in the interest of the politics. e.g.- Intestinal policy, monetary policy foreign investment policy, etc.
(3) Economic System: It refers to the scope of private business and extent of government regulation on economic activities determines the nature of the economic system i.e. capitalist social or mixed economic
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