Question

Government policies on foreign-trade regulation and taxation constitute the _____ factors that have a significant influence on business.

Answer 1

Government policies on foreign-trade regulation and taxation constitute the economic factors that have a significant influence on business.

What are economic factors?

Economic forces are elements that influence the competitiveness of the firm's operating environment.

Economic Factors Examples

The tax rate.

The exchange rate.

Inflation.

Labor.

Supply and demand.

Wages.

Policies and laws

Administrative activity.

Employment, wages, prices/inflation, interest rates, and consumer confidence are the economic factors that have the most impact on consumer goods demand.

Increased spending will assist businesses in expanding, lowering unemployment, and improving the economy. However, if consumer income falls, spending will most certainly fall as well. As a result, businesses will perform worse, unemployment will rise, and the economy will be less stable.

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