BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Management style
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Business cycle
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Employee morale
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Long-term goals
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Detailed explanation-1: -Economic Environment includes interest rates, inflation rates, changes in disposable income of people, stock market indices and the value of rupee are some of the economic factors that can affect management practices in a business enterprise.
Detailed explanation-2: -The economic environment of the business is one of the external factors that can influence strategy and decision-making. Economic factors include GDP, exchange rates, taxation, interest rates, fiscal policy, monetary policy and inflation.
Detailed explanation-3: -The upswing of the business cycle towards a peak is called an economic expansion. An economic expansion is associated with: increase in production/output • decrease in unemployment • increase in wages • increase in consumer spending.
Detailed explanation-4: -main factors contribute to changes in the business cycle: business decisions; interest rates; consumer expectations; and external issues. When businesses increase production, they increase aggregate supply and help fuel an expansion.