P5: Describe the influence of two economic environments on business activities within a selected.
In this assessment I will be writing about the economic environment and how it affects the business. In this assignment I will be writing about the company National Health Service (NHS). National Health Service is a public sector company run by the government. But nevertheless all companies are affected by the economic environment. But in this assignment I will be highlight the two main factors that ‘Recession and Boom’.
National Health Service is a company that is run by the government. It is a company that provides health service for the people living within the UK. National Health Service currently provides the service for the 50 million people that are living in Great Britain. The target and objective of the company is to help the ill patients and cure them. The demand is increasing for the service. This will lead to more job vacancies for the people. By providing the best possible service it will help improve the lives of the people and also increase the live expectancy.
During the time of recession National Health Service was also affected amongst the other businesses that are run by the government also publicly. During the Recession NHS was largely affected as it was hit by £15 billion shortfall. This meant that poor service was provided and also the waiting lists would increase. Furthermore the term Recession means when there is a period of general period is decline, For example there is a decrease in sales of gross domestic product for more than two consecutive quarters or longer. But on the other hand recession dent last much long than a year. During the recession the high unemployment rate increases and the wages fall also. The retail sales will also fall. Last recession the people living in the UK cut back on wasting money in shopping and travel as people