Secondary sector still dominates, but major growth in service sector. Former Eastern Block Country may be any of above, but the 'command economy' under communism has left legacy that defies straightforward classification. Economic dynamism is associated with high energy driving forces producing rapid growth and development and operating in an environment with few frictions. Economic environment encompasses the conditions which determine aggregates such as national income , output, employment and price levels. See also National income , National output and National expenditures .
Economic forecast is a prediction of future economic conditions.
6.1 The price of borrowed money, 6.2 A fall encourages consumer spending and investment, reduces costs but discourages savings and overseas funds inflow, 6.3 A rise reflects the need to choke off demand or attract overseas funds to finance a balance of payments deficit. The order size that realizes the lowest combination of carrying and procurement costs. Economies of scale Reductions in the average cost of producing a commodity in the long run as the output of the commodity increases. Economy - the need to minimize the cost of inputs. EDI is system to link up the computers of different business allowing the interchange of electronic data between them.