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Describe the Dimensions of the Patterns and Events Occurring in the Environment

question 33

Essay

Describe the dimensions of the patterns and events occurring in the environment that influence organizations.


Definitions:

Contraction

A phase of the business cycle where there is a decline in national output and economic activity.

Standard Of Living

The degree of wealth and material comfort available to a person or community, measured through income, employment, class disparity, poverty rate, and housing affordability.

Real GDP

The total value of all goods and services produced within a country, adjusted for inflation, reflecting the real quantity of goods and services.

Real GDP Per Capita

Real GDP divided by the population; the best measure of an economy’s standard of living.

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