Culture encompasses a wide variety of elements, such as values, norms and artefacts. These are dependent on language, social situations, religion, political philosophy, economic philosophy, education, manners and customs.
Example: Some inventions that affected western culture in the 20th century were the birth control pill, television and the Internet. The television brought similar visual programmes into many homes but influences how and when family members interact with each other.
The rate of savings and investment depends on the influence of cultural benefits upon the people. The culture may emphasise on some jobs while detesting others. Some communities may be more entrepreneurial than others. For example, the joint family system in which elders opinions are not questioned, may lead to children who are unable to develop, expand, innovate or change the business.