When a local bank in Kansas City makes loans to its small business customers, it charges them an interest rate for borrowing money. Interest rates are part of the ____________ environment.
Question 19 options:
cultural and social
When a local bank in Kansas City makes loans to its small business customers, it charges them an interest rate for borrowing money. Interest rates are part of the economic environment.
Meaning of Economic Environment:- Those Economic factors which have their affect on the working of the business is known economic environment. It includes system, policies and nature of an economy, trade cycles, economic resources, level of income, distribution of income and wealth etc. Economic environment is very dynamic and complex in nature. It does not remain the same. It keeps on changing from time to time with the changes in an economy like change in Govt. policies, political situations.
This long-lasting quarantine period has undoubtedly shaken up the world. From the economy to health care, and even to schools…
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