BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Economic Environment
|
|
|
Legal Environment
|
|
|
Political Environment
|
|
|
Social Environment
|
Detailed explanation-1: -Gross domestic product (GDP), exchange rates, taxation, inflation, etc. are the types of an economic environment.
Detailed explanation-2: -The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company’s control, and may be either large-scale (macro) or small-scale (micro).
Detailed explanation-3: -GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well.
Detailed explanation-4: -the following which is not a part of the economic environment is-Strength of consumer spending.