Business Environment Lecture 3

Investigate the economic, social and global environment in which organisations operate CONTENTS (Lecture 3): Resource issues and types of economic system: basic economic problem, effective use of Resources; type of economic systems — command, free enterprise, mixed, including transitional economies, public and private sector initiatives; private finance initiatives. Business Environment : We can divide the types of Business Environment into following categories.
External Environment : It is largely consisted of uncontrollable factors , which includes economic, political , social, technological, natural & international factors. ECONOMIC ENVIRONMENT : Business is a micro economic unit . Its market behaviour exhibits the business’ economic decisions. Economic Environment refers to all those economic factors which can affect in any way the functioning of the business itself. In todays firm we see economists working on the strategic levels as the contribution of economists towards the successful running of the business is unavoidable.BASIC ECONOMIC PROBLEMS: ‘ Economy refers to the sum total of economic activities undertaken by the people of an area with a view to earning their living. ”TR Jane et al (P1) Economic Problem: Human demands and needs are unlimited and resources are limited.
It is not possible to satisfy each and every individual need , due to limited resources therefor we have to make choices as to how to make the optimum use of its scarce resources. It has to make decision as to how much should be allocated to the production of cars and how much to production of other metallic products.Therefore allocation of resources across its different uses can be classed as Economic Problem. Or Economic problem is the problem of choice or economical uses of scarce resources. www. bized. co.

uk cited 11/11/2010 . Three Major Reasons Behind Economic Problems: 1. Unlimited Wants 2. Limited /Scarce Resources 3. Alternative use of Resources Effective Use Of Resources: Types of Economic System: 1. Socialist 2. Capitalist 3.
Mixed DEFINITION: ECONOMIC SYSTEM: References: 1. TR Jain , OP Khana (2009-2010):Business Economics 2.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Order your essay today and save 25% with the discount code: THANKYOUPlace Order
+