Economics & Business Environment
Posted: Sat Feb 22, 2025 3:02 pm
Economics & Business Environment
Economics & Business Environment focuses on the economic factors and external influences that impact business operations and decision-making. It helps businesses adapt to changing market conditions.
1. Microeconomics
Economics & Business Environment focuses on the economic factors and external influences that impact business operations and decision-making. It helps businesses adapt to changing market conditions.
1. Microeconomics
- Studies individual markets, consumer behavior, and pricing strategies.
- Covers supply and demand, market structures, and competition.
- Helps businesses set prices and make production decisions.
2. Macroeconomics
- Examines national and global economic factors like inflation, GDP, and interest rates.
- Analyzes government policies, taxation, and economic growth.
- Helps businesses prepare for economic fluctuations and risks.
3. International Business
- Focuses on trade, foreign exchange, and global market strategies.
- Covers import/export policies, foreign investments, and international regulations.
- Helps businesses expand into global markets and manage international risks.
Understanding economics and the business environment helps companies make informed decisions, manage risks, and seize market opportunities.