Briefly explain the Economic and Financial Environment of International Business.

Economic environment refers to all economic factors or forces affecting business and external to and often beyond the control or influence of individual business enterprises.

Business is an economic activity and it conducts its activities in the market system. Hence, a business is greatly influenced by the economic environment.

It is the economic environment of a business which is the primary consideration in the decision-making of a firm. 

Economic environment consists of the following factors:

(i) Economic Development

(ii) Gross national Product and its Distribution

(iii) Expenditure Pattern

(iv) Infrastructure

(1) Economic Development-The development of marketing in a country depends on its economic development. A highly developed economy offers a large sized market of a variety of products.

Besides, a highly developed economy has a better infrastructure and more developed marketing systems. 

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