Question

Which of the following statement is incorrect:

Options

• Business environment is a relative concept.

• Business environment is the sum total of all things internal to business firms.

• Opportunities refer to the positive internal trends or changes that will help a firm to improve its performance.

• All are correct

Answer 1

Business environment is the sum total of all things internal to business firms.

Explanation -

The sum total of all external and internal forces affecting the operation of a firm is known as the business environment.