Business 4 Manufacturing in the UK

Nature of competition changes from industry to industry

Economic environment - Out the business hands but can prepare and respond

Macroenconomics concearned with 

• The total leel of spending in the economy 
• Levels of empoyment and unemployment
• The total investment made by business and government
• The general level of prices
• The rate of inrest rates and exchange rates

GDP - Used to measure economic growth

GDP Formula - Consumption + Investment + Governement spending +  Net Exports

Can measure actual growth and potential growth

Importanace of economic growth

• Influences Living standards
• Rising living standards - People better of