Background
The external economic environment in which a business operates has a great impact on its performance. The economic environment consists of several external factors in a business market. In a similar connection, the broader economy can also influence a business. Economic environment can be divided into the microeconomic environment and macroeconomic environment. As far as microeconomic environment is concerned, it affects business decision making such as individual activities of firms and consumers. On the other hand, macroeconomic environment affects the whole economy and all of its stakeholders. Many economic factors have external limitations on the business and organizations always ...
