Economic Strategy for Business Answer 2022

Running Head: ECONOMIC STRATEGY FOR BUSINESS
Economic Strategy for Business
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ECONOMIC STRATEGY FOR BUSINESS1
Table of Contents
Answer: 3.........................................................................................................................................2
1)..................................................................................................................................................2
2)..................................................................................................................................................2
3)..................................................................................................................................................2
4)..................................................................................................................................................3
Reference List..................................................................................................................................4

ECONOMIC STRATEGY FOR BUSINESS2
Answer: 3
1)Economic theory is a model associated with the understanding and explanation of goods
movement in the market. It analyses the economic behaviour and interprets what is the finest
way to solve a given problem. Market structure is very essential for growth of businesses as
during period of recessions, growth of businesses gets hampered and vice-versa keeping in mind
about the inflation and interest rate. A series of instructions, definitions, threats and assumptions
are hypothesized that the firm might encounter.
In business proposals, planning and structure of the entire firm is synthesized. Setting of
firms needs huge investment and capital assets by considering the risk factors, demand for the
specified good and the price level (Wirtz, 2016). By considering the economic theory,
businessmen can estimate the market demand for products, how to lower the cost of production
so as to increase the output supply and revenue level.
2)Economics is a social science that gives an idea about the economic condition by considering
the standard of living and country’s GDP (Gross Domestic Product) growth. Development of