Question

How do industry or external changes impact the things that you do personally?

Answer 1

The external changes or the changes that occur outside of our life affects the things that each of us do personally. It is because human are connected to nature or the everything in the surroundings since human is a part of the nature. Anything that happens outside or anything that happens in the industry affects everybody because that's life. Someone cannot be free of the changes that happens around while breathing the same air and stepping on the same land as everybody does. For example, inflation, it does not only affect businessmen, vendors and the companies and the consumers too. Everyone in the community is affected by it.

Answer 2

Industry or external changes impact your economic activity due to a large number of factors that come from the economic system.

An economic system could be understood as any way that human beings have set for material provisioning. A wide range of social customs and institutions had been deployed in several economic activities arranged for material provisioning.

For example, employment and wages can affect consumer goods demand. Therefore, the more people are getting an income, the more people are spending purchases. Also, the level of wages affects consumer spending. If wages are paralyzed or decreasing, demand for consumer goods is likely to drop.