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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?
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| A) Globalization | 1) Profit motive |
| B) Privatization | 2) 2006 |
| C) Liberalization | 3) Borderless economy |
| D) New economic policy | 4) Service Motive |
| E) Social Environment | 5) Internal factor |
| 6) Disinvestment | |
| 7) Social Values | |
| 8) 1991 | |
| 9) Abolishing license policy | |
| 10) GATT |
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| Column I | Column II | |
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