[Solved]1.1 Explain the importance of the micro-economic environment to business organisations

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[Solved]1.1 Explain the importance of the micro-economic environment to business organisations

ATHE Level 6 Extended Diploma in Management

Economics for Business

Unit aims

To provide learners with the knowledge and understanding of the economic environment and its impact on how businesses operate.

Learning Outcomes

1. Understand the microeconomic business environment

1.1 Explain the importance of the macroeconomic environment to business organisations

1.2 Analyse business objectives and behaviour in an economic context

1.3 Assess the impact of market structures on business organisations

2. Understand the macroeconomic environment in which businesses operate

2.1 Explain determinants of national income

2.2 Explain the impact of government policies on an economy

2.3 Assess the impact of the macroeconomic environment on business organisations

3. Understand the implications for business organisations of operating in the international economic environment

3.1 Analyse features of the international economic environment as they relate to business

3.2 Assess the implications for business organisations of operating in the international economic environment