Ask Question
31 January, 13:26

Explain using 3 examples how external factors influence business

+2
Answers (1)
  1. 31 January, 13:53
    0
    Fators are 1. Economic Conditions, 2. Alternate or Subsititues, 3. Infrastructure

    Explanation:

    As the examples are below:

    1. If the economic conditions are favorable such as stable no political instability as it will give confidence to the business owners to further operate.

    2. It also depends on the market, as it there are more substitute's available which means the margin is less therefore less profitability as in this owners might think that less attractive, whereas in opposite if the market is monoply that means less competition and more profit the owners might be charging more due to less availability of alternates.

    3. As it also depends on the infrastructure as which means how easy is it for the products to reach the market. If the infrastructure is not developed than how can a company operate and able to distribute the products in the market.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Explain using 3 examples how external factors influence business ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers