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'service sector contributes to almost half of India's GDP but employs only one-third of its workforce.' Which of the following dimensions of Business Environment is stated in the above line? -

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Question

'Service sector contributes to almost half of India's GDP but employs only one-third of its workforce.' Which of the following dimensions of Business Environment is stated in the above line?

Options

  • Economic

  • Social

  • Political

  • Legal

MCQ

Solution

Economic

Explanation - 

The economic environment refers to the economic elements that influence a country's business. It is made up of factors and forces that have to do with the means of production and distribution of wealth, such as GDP, inflation rate, money supply, and so on.

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Dimensions of Business Environment
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