In recession the demand and the supply is going to decrease due to the lack of disposable salaries that the customers will have, this means that the
customers of Greggs are going to decrease in spending on the products that are going to be expensive for them and they are going to be price
sensitive this means that they will switch to the cheaper substitutes, customers of Greggs are going to be likely to decrease to purchase products
and make essential and the correct decision and they are only going to buy anything if they need it. This means that if customers will not purchase
products from Greggs, they are likely to not make any profit and progress in financial state and this means that they are going to be selling products
at a decreased price that will make some profit for the organisation.
F. Explain how the level of GDP would be affected during a recession and how this would impact your selected organisation.
The GDP level falls during the recession this is because the overall income of the employees in the country they have a decreased income this means
that the customers will not buy as much in Greggs and this lowers the confidence of Greggs, and this means that Greggs are going to be investing
and expanding less, this means also that the demand, productivity and supply is going to decrease. This means that the customers are going to buy
less goods from Greggs and they will go for the cheaper substitutes.
customers of Greggs are going to decrease in spending on the products that are going to be expensive for them and they are going to be price
sensitive this means that they will switch to the cheaper substitutes, customers of Greggs are going to be likely to decrease to purchase products
and make essential and the correct decision and they are only going to buy anything if they need it. This means that if customers will not purchase
products from Greggs, they are likely to not make any profit and progress in financial state and this means that they are going to be selling products
at a decreased price that will make some profit for the organisation.
F. Explain how the level of GDP would be affected during a recession and how this would impact your selected organisation.
The GDP level falls during the recession this is because the overall income of the employees in the country they have a decreased income this means
that the customers will not buy as much in Greggs and this lowers the confidence of Greggs, and this means that Greggs are going to be investing
and expanding less, this means also that the demand, productivity and supply is going to decrease. This means that the customers are going to buy
less goods from Greggs and they will go for the cheaper substitutes.
