Which of the Following Is an Element of Economic Forces

Economic elements Governmental regulations Cultural and social trends affecting an industry Geographic origin of an industry Question. The size of the available market.

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Management plays a vital role in the growth of the company.

. Which of the following is not an element within the macroenvironment. Cultural and social trends affecting an industry c. Which of the following is an element of economic forces.

Trade investment innovation and sound economic institutions are four essential elements for economic grwoth. The complexity of global modern business markets demand that business leaders understand the economic forces that affect business markets which are. The factors which affect others to the greatest extent and hold the most clout in the world of economics are known as economic forces.

What are the elements of economic progress. Demand for the companys products or services. Refer to Exhibit 13-The International Marketing Task.

Analysis of society is important for all of the following reasons except A. Foreign policies Price is a controllable element in both domestic and international marketing. Aeconomic Bcontrollable Cdemographic Duncontrollable.

Economic forces are the factors that help to determine the competitiveness of the environment in which the firm operates. Price of products D. Aeconomic forces political forces and competitors Bcultural forces technology and customers.

Sociocultural forces rC 9. Scanning forces in STEEP analysis include the scanning of sociocultural technological economic ecological and political-legal environmental forces. These factors play a huge role in deciding consumer behaviour and financial flow of a country thereby affecting its economic activities.

Competitors in an industry b. Collectively these are called businesses. These factors determine the competitive environment in which a firm operates.

Several external factors have a significant influence on a countrys economy. Recall that a corporations task environment is typically focused on the industry within which the firm operates and it is not a component of STEEP analysis. Elements of Economic Environment.

Availability and quality of suppliers. These factors determine an enterprises volume of demand for its product and affect its marketing strategies and activities. _____ element to which they must react and adapt.

Competition within the home country C. There are multiple economic institutions such as financial institutions the corporate form and markets. Employment inflation rate interest rate government fiscal and monetary policy constitute the important economic forces.

The broad environment consists of all of the following except. _____ is one of the five forces of Michael Porters five forces analysis. For example economic environmental forces generally include such elements in the economy as exchange rates and wages employment statistics and related factors such as inflation recessions and other shocksnegative and positive.

All these elements together constitute the economic environment definition. What are the five major types of external forces that should be examined as part of an external audit. Interest rate is a major factor that affects the liquidity of cash in the economy.

Cultural and social trends affecting an industry a. The reliability of the companys distribution chain ie how it gets products to customers While companies often cant control their economic environment they can evaluate economic conditions before choosing to enter a particular market or industry. Give an example of each type of force 1 economic forces 2 social cultural demographic and natural environment forces 3 political governmental and legal forces 4 technological forces 5 competitive forces.

BFollowing government regulations is sufficient to support sustainability. The third element in society is material things including land natural resources infrastructure and manufactured goods. Group of answer choices Ethics Competitors and supply chain.

_____ is a controllable element in both domestic and international marketing environments. A higher return on investment will attract investors. E Economic element of the general environment Technological element of the general environment The ____ is the portion of an organizations environment that deals with morals values and demographic characteristics.

Question 8 Which of the following is one of the five forces of Michael Porters five forces analysis. 1 ECONOMIC FORCES -. Awareness of what is happening in society virtually guarantees that an organization will.

Geographic origin of an industry e. Political and legal forces C. Though it is not an economic factor it is affected by economic factors and drives the business to generate maximum revenue.

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