Definition, Meaning & Synonyms

economic-imperative

Noun

/ɪˈkɒn.ə.mɪk ɪmˈpɛr.ə.tɪv/

Definition

An economic imperative is a principle or requirement that drives economic decisions and actions, usually emphasizing the necessity of maximizing efficiency and profitability in a particular context.

Examples

Businesses often face an economic imperative to cut costs during a recession.
Implementing sustainable practices can sometimes be seen as an economic imperative for long-term survival.
The government’s economic imperative is to stimulate growth and reduce unemployment.

Meaning

The term refers to a motivating factor or crucial need in the realm of economics, often highlighting the importance of financial considerations in decision-making processes.