Question : _______________ describes characteristics of the society in which the organisation exists.
Option 1: Business environment
Option 2: Economic environment
Option 3: Social environment
Option 4: Political environment
Correct Answer: Social environment
Solution :
Social environment consists of the customs and traditions of the society in which business is existing. It includes the standard of living, taste, preference and education level of the people living in the society where business exists.
Hence, option 3 is the correct answer.