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Problem:
(a) Define ‘Business Environment'.
(b) Briefly distinguish between internal and external environments of business.
(c) Discuss on the key components of the general environment of business.
(d) Analyse the difference between ‘micro/operating environment and ‘macro/general environment'.
Probelm 2:
"Doing business today is radically different from what it was just 20 years ago. To be effective in this rapidly moving and ever-changing environment, organisations need to do things better, faster and meet the increasing demands of their customers".
Discuss on the factors that are considered to be crucial for an organisation's survival in the 21st Century.
Problem: i) Evaluate the following statement: "The First Theorem of Welfare Economics states that as long as producers and consumers act as perfect competitors and there ar
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
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A transition economy is Moving from a planned to a mixed or free market economy.
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QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm
Define the macroeconomic stability in market for promoting development. Macroeconomic stability implies that: • Tight fiscal policy that is balanced government budgets and d
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