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Question
Explain the following term/concept.
Social environment.
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Solution
- Modern business is a social system in itself and forms a part of the larger social system represented by society in general.
- The class structure of a society affects the business. Such as occupation of the people, their education, income level, social status, attitude towards living, work, and social relationship.
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RELATED QUESTIONS
What is meant by 'business environment'?
What is included in the 'political environment' of business? State.
What is included in the 'Legal environment' of business? State.
What is included in ‘Technological Environment’ of business? State.
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| Group ‘A’ | Group ‘B’ |
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| B) Political environment | 2) Taxation policy |
| C) Legal environment | 3) Technology |
| D) Economic environment | 4) Traditions |
| 5) WTO | |
| 6) Controlled by business | |
| 7) High cost | |
| 8) Ideology of political party |
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Correct the underlined word and rewrite the following sentence.
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Answer in one sentence:
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| Column I | Column II | |
| (i) | Complexity | Very difficult to predict future happenings. |
| (ii) | Specific forces | Easier to understand in parts but difficult to grasp in its totality. |
| (iii) | Uncertainty | Affect individual enterprises directly and immediately. |
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