The Business environment refers to the every changing surrounding conditions in which the business operates
Which of these are EXTERNAL factors?
government policy
technology
economic conditions
social attitudes
products
location
resources
management
which of these are INTERNAL factors?
economic
A business has lots of control over an internal factor
A business has a small amount of control over external factors
During a RECESSION, consumers become less wary of their spending
During a BUST period unemployment levels rise
What are some key things that happen during a BOOM period in a business?
Increased profits
employment levels rise
increased economic growth
unemployment levels are at a high
production of products will be at a low
Deregulation means a reduction in government intervention in the financial system and an end to credit, interest and exchange rate controls.
