Tariffs and import quotas are part of the economic macroenvironment.

Question

Quizplus · Accepted Answer

Tariffs and import quotas are part of the economic microenvironment as they directly affect individual businesses and industries by influencing their specific operations and competitiveness in the global market. The macroenvironment, on the other hand, refers to the broader economic conditions affecting all businesses, such as economic growth rates, inflation, and unemployment levels.

Tariffs and Import Quotas Are Part of the Economic Macroenvironment