Influence of Economics on Household Decision Making

Business owners and managers analyze and utilize various macroeconomic indicators in making business decisions.  The most common among these economic indicators are the gross domestic product (GDP), prices, inflation, exchange, and interest rates. According to Viez (2017), this information help business executives, with this and knowing that businesses have a global impact, to understand how strong or weak the economy is, whether it is growing or not, and where it is heading.

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