Course Solutions Uncategorized (Answered) : Q30 Describe three [3] challenges for a business that may arise when the economy is experiencing a boom period. [3 Marks]

(Answered) : Q30 Describe three [3] challenges for a business that may arise when the economy is experiencing a boom period. [3 Marks]

June 27, 2024| admin| 0 Comment| 7:36 pm

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Q30

Describe three [3] challenges for a business that may arise when the economy is experiencing a boom period. [3 Marks]

Expert Answer

Boom:

A boom with respect to an economy means the increased commercial activity within the economy. Businesses increase their investment during boom period but the inflation also goes higher. This period brings a lot of opportunities in an economy. It also comes with a few challenges with it.

Competition: A booming economy attracts a lot of companies in the arena. This increases the competition for the businesses.
Regulation: Booming economy also has stricter laws from government. This is also a

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(Answered) : Q30 Describe three [3] challenges for a business that may arise when the economy is experiencing a boom period. [3 Marks]

Expert Answer

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