Question : The economic environment of business refers to:
Option 1: The technological factors affecting business operations
Option 2: The social and cultural factors influencing business decisions
Option 3: The overall economic conditions, such as GDP growth and inflation rates
Option 4: The legal and regulatory framework within which businesses operate
Correct Answer: The overall economic conditions, such as GDP growth and inflation rates
Solution : The correct answer is (C) The overall economic conditions, such as GDP growth and inflation rates
The economic environment of business refers to the broader economic conditions, including factors like GDP (Gross Domestic Product) growth, inflation rates, employment rates, interest rates, and other economic indicators that impact the overall economic health and stability of a country or region. This environment affects businesses by influencing consumer spending, business investments, and economic trends that can have a significant impact on their operations.
Question : The Phillips curve shows the relationship between:
Option 1: Inflation and unemployment
Option 2: GDP and inflation
Option 3: GDP and unemployment
Option 4: Interest rates and inflation
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