what is the difference between economic and non economic environment?
Economic environment comprises of the economic variables such as interest rates, income, stock market indices that affect the functioning of the enterprises. For example, an increase in income affects the demand for goods and services of the enterprises.
On the other hand, Non economic environment includes all other factors affecting the business operations of the organisation including social, cultural, political, legal and technological factors.
On the other hand, Non economic environment includes all other factors affecting the business operations of the organisation including social, cultural, political, legal and technological factors.