Pest analysis and economic factors, Microeconomics

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PEST analysis

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Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations also protect the rights of the consumer and maintain the efficiency of the market in Australia.

Economic factors: The economic conditions directly affect the purchasing power and it also affects the business in terms of recession or slowdown because consumer spending decreases that time and it affect the demand.

Social and cultural factors: A social and cultural factors helps to meet the requirements and needs of the customers. This will focus on building healthy and friendly services as people are very health conscious so that will increase the fitness level of the people and involvement as well as participation of the people.

Technological factors: This helps to focus on adopting new technologies and creating new awareness among the customers. Internet will help to introduce new ways to increase the market capabilities. Thus it will provide excellent opportunity and improve the business


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