Question

What are the different factors that influence the economy?

1) economic
2) social
3) cultural
4) demographic
5) natural environment
6) political
7) government
8) legal
9) technological
10) competitive

Answer 1

Factors that influence the economy include geography, demographics, industrial structure, and institutions.

Step-by-step explanation:

There are several factors that influence the economy:

1. Geography: Different geographic features such as coastlines, mountains, and rivers can create opportunities or barriers to trade and commerce.
2. Demographics: The age distribution of the population can have an impact on the economy. Countries with a younger population may have a higher potential for economic growth.
3. Industrial structure: The type of industries present in a country can affect its economic performance. Some industries may be more productive and profitable.
4. Institutions: The legal, political, and social institutions in a country can shape its economic environment and influence factors like property rights, rule of law, and corruption.