Decisions of other groups
Factors influencing decisions    What is a market? Demand Supply Equilibrium Excess demand   Excess supply   Shifts of demand  Shifts of supply Convergence to equilibrium

Copyright © All rights reserved. Site administered by CPAP and content provided by Romeo Salla    


 Course notes quick navigation

1 Introductory concepts 2  Market mechanism  3 Elasticities  4 Market structures 5  Market failures  6  Macro economic activity/eco growth  7 Inflation 8  Employment & unemployment  9  External Stability  10  Income distribution 11.Factors affecting economy  12  Fiscal/Budgetary policy  13  Monetary Policy   14 Aggregate Supply Policies  15 The Policy Mix

Next page Previous page

There are numerous groups in the economy whose behaviour has significant impacts on economic activity.  This includes trade unions, religious institutions, welfare and other not for profit groups, or the many of the other clubs and associations that seek to serve the interests of their members.  The factors influencing the behaviour of these groups will depend on the relevant group concerned.  For example, the St Vincent De Paul Society is a not for profit organization that seeks to support the needy members of our society and promote social justice.  Similarly, the peak trade union, the ACTU, is motivated to improve the wages and working conditions of its members (i.e. employees).  Accordingly, economic factors such as unemployment, declining incomes and poverty will have an important impact on the activities of these groups.

Test yourself