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Business 11th Edition by William Pride,Robert Hughes ,Jack Kapoor
Edition 11ISBN: 978-1111526207Business 11th Edition by William Pride,Robert Hughes ,Jack Kapoor
Edition 11ISBN: 978-1111526207 Exercise 1
In what ways have the economic problems caused by the recent crisis in the banking and financial industries affected business firms? In what ways have these problems affected employees and individuals?
Explanation
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The United States along with other countries around the world are suffering due to the economic crisis which started in the late 2007. The following are the impact of the economic crisis on business firms, individuals and employees:
1) Reduction in consumer spending
2) Unemployment rate reaching10 percent
3) Slowdown in the construction and home building industry
4) Bankruptcy filed by several automobile manufacturers
5) Banks on the verge of a financial collapse as they are facing issues associated with loans and investments
6) Individual investments and retirement accounts getting devalued due to depressed stock values
7) Increase in business failures
1) Reduction in consumer spending
2) Unemployment rate reaching10 percent
3) Slowdown in the construction and home building industry
4) Bankruptcy filed by several automobile manufacturers
5) Banks on the verge of a financial collapse as they are facing issues associated with loans and investments
6) Individual investments and retirement accounts getting devalued due to depressed stock values
7) Increase in business failures
Business 11th Edition by William Pride,Robert Hughes ,Jack Kapoor
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