As part of thinking about the _____, managers track the Consumer Price Index, manufacturing and retail inventory levels, and consumer confidence measures.

Economic dimension implies that the effect of economic factors on a particular circumstance which a company faces are taking into consideration while making a decision.

In the question, the three economic factors mentioned to be considered by the company as part of the economic dimension are Consumer Price Index, manufacturing and retail inventory levels, and consumer confidence measures.

The Consumer Price Index (CPI) measures the weighted average of prices of a basket of commodities like cloth, food, transportation, etc. This is calculated as average of the changes in prices of the chosen basket of goods and services.

Manufacturing inventory are raw material or work-in-progress items kept in stock to produce goods, while retail inventory are the finished goods kept in stock to be sold.

Consumer confidence measure can also be referred to as the Consumer Confidence Index (CCI) and it is the level of assurance which consumers display about general economic condition in a country through the way they spend or save.

How a company monitor and prepare for each of the three factors will determine its success or failure.

shrutiagrawal1798 shrutiagrawal1798 · Answer 2 · 2022-01-20T13:42:50+01:00

The consumer price index, manufacturing and retail inventory, and consumer confidence has been measured for the economic dimension analysis.

The manager has been the responsible person for the organization that has been undertaking the staff and the tasks.

While making the decision for the company, the factors such as consumer price index, manufacturing and retail inventory, and consumer confidence has been measured.

Tracking for consumer price index

The consumer price index has been the measurement of the average cost of the goods that has been bought by the consumers.

The manufacturing and retail inventory has been the detailed list of the raw materials for manufacturing and the goods produced to be sold.

The consumer confidence has been the measure of the assurance proven by the consumer in buying the product.

The implication of the following factors has been taken into consideration with the decision of economic dimensions for success or failure.

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