Economic Environment

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Economic Environment

Economic Conditions in the Market

Economic Policies of Govt Economic System of Country
Demand Factors Supply Factors

Levels of Income Number of Suppliers Industrial Policy Free Market Economy
Level of Savings Extent of0 Competition Fiscal Policy Command Economy
Levels of Spending Nature of Supply Monetary Policy Mixed Economy

Foreign trade Policy

Foreign Exchange Policy

 

 

Economic Systems

 

Every country has to address itself to some basic problems; they are

 

i)             Which commodities should be produced?

ii)           In which quantities they should be produced?

iii)         How they should be distributed?

 

The countries are classified in to three groups on the grounds of the methods adopted by them for finding answers to these questions.

 

1) The Free Market Economies

2) Command Economies

3) Mixed Economies

 

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