Downturn in the economy

 Economic Downturn Dissertation

An economic downturn takes place or has been said to have happened when an economic climate or nation/s enters a recession. During this period certain changes are skilled within the economy. This adjustments include a decreased productivity of the economy or perhaps nation, increased unemployment rates, increased inflation rates, a crashed stock market, loss of purchase value while the share prices or value drops, value of real estates could reduce or drop and financing for tasks and businesses could turn into very difficult to acquire. During an economic downturn, production and other businesses slows down a good deal, this automatically causes a decline in profits for businesses, income levels and employments. This affects businesses because the consumers capability to spend can be greatly reduced. In Nigeria, the above mentioned situations happen to be prevailing proving the fact that the economy can be /maybe experiencing a economic downturn. The impact of the economic downturn on my organization is as follows, 5. A decline in the ask for environmental effects assessment: when new production and production companies are staying set up, be it on a small scale or mass, the government obtain that an environmental impact examination be accomplished. However since there is a drop in the set up of new companies, we as an impact examination firm have become less range of request for impact assessments. 2. A change in auto product sales: in the last year, seeing that income levels have decreased and financial resources available to households have decreased their spending pattern has also changed. We certainly have experienced a reduction in the revenue of high benefit automobiles, with sales staying strongest in the less expensive automobiles. Overall income has decreased for my own organization and have had to apply the following changes to be able to keep in business. * Emphasis our revenue advert and marketing for the low cost cars * Introduce other analytical services apart from impact examination * Decrease wages...

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