economic environment affects different businesses Content The economic environment consists of External factors in a business' market and the broader economy that can influence a business. You can divide the economic environment into: • The microeconomic environment - which affects business decision making - such as individual actions of firms and consumers(Market size, Demand, Supply, Competitors, Suppliers and Distribution chain, such as retailer stores) • The macroeconomic environment - which
Words: 630 - Pages: 3
Kentucky 42701 270-317-3847 elderwcpj48@yahoo.com Career Objective Business Management Professional Skills Profile with 2 year of Academic Schooling and Credential in: * Accounting I * Principles of Marketing * Microeconomics * Macroeconomics * Computer * Legal and Ethical Environment of Business * Business Management and Leadership Education AABA – Business Administration, GPA 2.93/4.0 July 28, 2012 Graduation Form American
Words: 514 - Pages: 3
several additional laptops within the household. Twenty years ago, this was definitely not the norm. From 1995 to 2015, the price of a personal computer had decreased significantly due to the advancement of technology. Two of the basic principles of microeconomics are supply and demand. As the supply of a product rises to be greater than the demand, the price of the particular product decreases (Applications of Demand and Supply, 2010). This is a perfect example of the effects of supply and demand
Words: 603 - Pages: 3
Chapter 5 Assignment 4. (Determinants of Price Elasticity) Why is the price elasticity of demand for Coca-Cola greater than the price elasticity of demand for soft drinks generally? • One of the key determining factors for elasticity of price when it comes to demand is how many existing substitutes there are for it. The broader the definition of a particular product the less elastic the demand for that product would be, making for a less elastic demand which is the case of “soft drinks.” When
Words: 622 - Pages: 3
Markets and the Economy Kizzy Teasley Principles of Economics Dr. Onipede According to Arthur O’Sullivan, Steven Shefferin, and Stephen Perez in their text Survey of Economics: Principles, Applications, and tools; economics provides a framework to diagnose all sorts of problems faced by society and studies the choices we make when there is scarcity. (2011) Explain how an increased federal budget deficit
Words: 988 - Pages: 4
Admission Procedures Erasmus Study in BABE Programme Administrative Issues Course Descriptors Mathematics Introductory Microeconomics Introduction to Sociology Current Issues of the European and Global Economy Academic Writing Introduction into Business Introductory Macroeconomics Introduction into Economic Analysis Economics of Integration Information Technology Intermediate Microeconomics Issues in Macroeconomic Policy Mathematical Economics Statistics Regional Economics Introduction to Strategic Management
Words: 47436 - Pages: 190
ECO/365 Principles of Microeconomics Team B Weekly Reflection University of Phoenix Carol Szerszen In my industry, there is always a concern for international competition for labor. According to Colander, “central determinant of a country’s competitiveness is the relative wage of labor in that country compared to the relative wage of labor in other countries “(Colander, 2010, p. 438). As companies move to cut costs, moving work overseas to employees that
Words: 656 - Pages: 3
LEARNING TEAM CHARTER – TEAM “D” Course Title ECO/365 Principles of Microeconomics Team Members/Contact Information Name Phone Time zone and Availability During the Week Email xxx-xxx-xxxx (e.g., AZ “Mtn Time”, Mon-Sat 9-11pm) Latosha McFarlin 904-412-4370 EST – Mon - Fri any time after 5:30 and Saturday any time after 1pm Tasha.mcfarlin@yahoo.com Theodore Metzger (TJ) 785-342-4721 CST – Available by text and e-mail at all times. I work odd hours and schedule changes
Words: 615 - Pages: 3
CHAPTER 1—WHAT IS ECONOMICS? MULTIPLE CHOICE 1. The basic problem of economics arises when there are unlimited resources available to fulfill society's limited wants. a.|True| b.|False| ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Knowledge 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance|
Words: 13032 - Pages: 53
Principles of Microeconomics 202 Seminar 1 Current Event: Chapter 3 (Supply & Demand) September 28, 2013 Global Oil Supply and Demand Online Article By, Kirby Brown, For the Deseret News Published: Monday, Feb. 25 2013 5:44 p.m. MST Global Oil supply and demand is driving gas prices in 2013. He was speaking of how when the price of oil fluctuates, the price of gasoline prices at the pump will also fluctuate. Given the numerous factors affecting global supply and demand for oil, the price
Words: 646 - Pages: 3
