difference between economic and non economic factors


Emission of smoke dust and chemicals from manufacturing plants. Although Government of India’s policy has been encouraging foreign investment in Indian companies, subject to certain conditions, and several factors like the domestic economic policy and the domestic economic situation have been deterrents to foreign investment to Indian companies. Copyright 10. A healthy environment supported by rapid growth, high rates of saving and investment, stable price level, fiscal stability and favourable balance of payments, always opens a bright prospect of business growth in a country. It is related to the improvement in the economic … Bioclimatic resources (land, water, forests and climatic environment), Fossil Fuel and non-fuel mineral resources. The application of modern technology in industry, it is now felt, leads to rapid economic growth at a huge social cost of deterioration of the physical environment around us, i.e., water, pollution, air pollution, noise pollution, so on and so forth. The management or managers generally to create, that will help to maintain a common behaviour. The business sector maintains close link with all the four other sectors. It also has very strong, direct effects on such business activities as production, product development, employment, finance, marketing and information, processing.
The effects of technology on these activities can be extremely beneficial or extremely harmful to business organisations. Therefore, economic decisions of business enterprise are determined by both micro and macro-economic environment. These damages are not as clear and easy to identify and place a dollar amount on for compensation.

Stagflation is characterized by poor growth rate, unemployment and inflation, which arises due to wrong policy of the government. It works, with the objective of profit maximization. The non-economic environment exercises a strong influence on the business. However, heterogeneity prevailing in respect of ethnicity, religion and language make the task of management quite complex. With the formation of World Trade Organisation (WTO), there is a tremendous change in the international trading environment. The increasing domestic competition is compelling many companies to pursue International Trade. Non-economic activities are performed during leisure or spare time, which is very limited. If you feel you have been injured by a doctor or someone working in a health care facility, you may be wondering if you have a case or not and if you need a lawyer. (xii) Securities and Exchange Board of India Act, 1992. The urban areas are comprises of doctors, engineers, lawyers, software professionals, industrial workers, government servants as well as business people. Report a Violation, Top 13 Features of Indian Business Environment, Factors Determining Economic Development in India.

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