BACHELOR OF BUSINESS ADMINISTRATION

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: -Accordingly, total economic environment is consisting of agriculture, industrial production, infrastructure, planning, basic economic philosophy, stages of economic development, trade cycles, national income, per capita income, savings, money supply, price level and population.

Detailed explanation-3: -The industrial structure stands for the main composition of a country’s social economic production, and can be divided into the primary industry, secondary industry, and tertiary industry. They can also be referred to as the agricultural, manufacturing, and services sector.

Detailed explanation-4: -Any 3 elements of the economic environment are Interest rate, income, and stock market value.

Detailed explanation-5: -Generally speaking, the industrial economy concerns those activities combining factors of production (facilities, supplies, work, knowledge) to produce material goods intended for the market.