BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The economy is affected by supply and demand, but there are forces that can influence the economic landscape. Some factors and variables include monetary and fiscal policy, global economic conditions, unemployment levels, trade balances, productivity, exchange rates, inflation, and interest.

Detailed explanation-2: -True cost economics is most often applied to the production of commodities and represents the difference between the market price of a commodity and total societal cost of that commodity, such as how it may negatively affect the environment or public health (negative externalities).

Detailed explanation-3: -Economic factors include economic growth, percentage of unemployment, inflation, interest and exchange rates, and commodity (oil, steel, gold, etc) prices. These affect the discretionary income and purchasing power of households and organisations alike.

Detailed explanation-4: -Demand or supply of goods or services affects the economy as with the increase in demand price of goods or service increase, which results in inflation. With inflation, the money reserve in the economy increases with the rise in the supply of goods or services. The price of the same decreases.