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Summary: Economics And Business Environment | 9789001813932 | A J Marijs
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Read the summary and the most important questions on Economics and business environment | 9789001813932 | A.J. Marijs
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1 Economics and the business environment
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1.1 Economic Activity and Economics
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When does economic activity occur?
When people make choices to maximise their prosperity using scare resources -
What are the different distinctions of the field of economics?
- Industry analysis
- Macroeconomics
- Monetary economics
- International economic relations
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What is industrial analysis?
The study of the characteristics of markets and business sectors that companies come into contact with (supply and demand and price changes) -
What is Monetary economics?
Is concerned with the phenomenon of money and the role that banks play in the economy -
What is International economics?
The study of the international trade between countries, international capital flows and monetary relations between countries -
1.2 Business environment
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What is the direct environment?
This is made up of the buying and selling markets on which the company operates -
What is the indirect environment?
This consists of the employer and employee organizations, the government and cultural elements such as public opinion and the media -
Does a company have little influence on the direct or the indirect environment?
The indirect environment -
What belongs to the macro environment?
Economic trends, variations in exchange rates and the price of raw materials and demographic developments -
2 Markets
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2.1 Market, product and the business sector
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Why do demanders and suppliers negotiate with each other?
To establish the required quantity, quality, terms of delivery and price of a certain product
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