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Khushi Agrawal

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What is economical environment?


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The term "economical environment" is generally used to describe the economic climate in which an economic system exists. It is generally not a negative term, but rather one which can be used to convey either hardship or prosperity.

Often times, two economies may require certain conditions to maximize their productivity. For example, high unemployment rates are often correlated with strong retail sales because low wages mean that consumers have more disposable income on hand for consumer goods. Similarly, high rates of growth are correlated with empty employment slots because employers have difficulty attracting qualified workers willing to work at their lower wage rates.

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