Articulate various economic principles and their relationship to business.

The economic environment has a profound effect on any type of business. Economic cycles, affect revenues, and profits, while product elasticities, affect pricing and demand. Other economic principles could also have substantial effects on businesses. This week you will help the company articulate various economic principles and their relationship to business

Your company is planning international expansion, the company sells a normal good (product). The company is thinking about exporting its products to Saudi Arabia. Assume that the company products are competitive with foreign products, and utilize the economic data below, to issue a recommendation whether the company should expand its operations to Saudi Arabia.

Key Economic Indicators Canada: