Understanding Economic Influences

Numerous economic indicators help business leaders determine what the future might hold. These might include the unemployment rate, housing statistics, the consumer price index, and more. In a 2-3 page essay, discuss what the data seems to be showing in the results of your research. Rank or order the economic indicators you consider most important, especially what the indicators say about the economy. In your conclusion, share where you believe the economy is going.

Concept Check

  1. Define the components of the internal and the external business environments.
  2. What factors within the economic environment affect businesses?
  3. Why do demographic shifts and technological developments create both challenges and new opportunities for business?