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Vilka [71]
2 years ago
15

What is an economic indicator and why is it important? Use at least two complete sentences to provide your response.

Business
1 answer:
kvv77 [185]2 years ago
5 0

Answer:

Answer is provided in two separate headings below.

Explanation:

<u>Economic Indicator</u>

They are briefly described as the figures used to understand the current position of the economy. Few examples of such are the Inflation rate, Gross Domestic Product (GDP), and Unemployment ratio compared to the populace.

<u>Reason for Important</u>

They are important because the information provided from them helps in grasping the state of the economy in the upcoming years. This data helps both the local and business individuals to make better decisions for their upcoming financial goals such as regarding the investment of capital, increase or decrease their employment level, buying property, etc.

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