Economic growth vital for business sustainability from "summary" of Macroeconomics for Business by Lawrence S. Davidson,Andreas Hauskrecht,Jürgen von Hagen
Economic growth is a fundamental factor for ensuring the long-term sustainability of businesses. When an economy is growing, it typically means that there is an increase in the overall output of goods and services. This growth creates new opportunities for businesses to expand and thrive, as there is a larger market to cater to and more potential customers to serve. With economic growth, businesses are more likely to experience an increase in demand for their products or services. This heightened demand can lead to higher sales and profits, which in turn can enable businesses to invest in new technology, expand their operations, and hire more employees. As businesses grow and become more profitable, they are better equipped to withstand economic downturns and adapt to changes in the business environment. Moreover, economic...
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