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prisoha [69]
3 years ago
14

Topic Review Activity

Health
2 answers:
Marat540 [252]3 years ago
6 0
<h3>Economic factors in decision making fall under the category of  external factors </h3>

Explanation:

External factors can affect a firm's or investment's ability to achieve its strategic goals and objectives. Such external factors may include competition; social, legal and technological changes, and the economic and political environment.  

Outside innovations are always the X-factor which will bring surprises to our economic future predictions. Such recent changes may be due to influences of (1) nature; (2) geopolitics; and (3) economic or social trends. Economists also speak of such causes as being "exogenous."

lidiya [134]3 years ago
4 0

Economic factors in decision making fall under the category of "External Factors"

Explanation:

<u>Economic factors in decision making fall under the category of "external factors".</u>

The economic factors refers to factors  that help to determine the competitiveness of a firm in the surrounding environment. Despite of the fact that these factors  relate with the economy on a more prominent scale, the basically  affect the internal  working of an organization.

<u>Examples of Economic factors include</u> Government policies,law,tax rates,unemployment,Wages,interest rate.

<u></u>

<u>Economic factors refers to the external factors in decision making process .</u>

While internal factors could be personality type, previous experiences or emotional or mental state at the time of making a decision, external factors are  the factors that are external to an individual.These include economic factors surrounding an individual or a firm

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