Business 4 Manufacturing in the UK

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The Macroeconomy

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
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