Question : The political environment of business includes factors related to:
Option 1: Economic conditions
Option 2: Social customs and beliefs
Option 3: Government policies and stability
Option 4: Technological advancements
Correct Answer: Government policies and stability
Solution : The correct answer is (C) Government policies and stability
The political environment of business includes factors related to government policies, stability, and the influence of the government on business operations. It encompasses issues like government regulations, taxation, trade policies, political stability, and the impact of government decisions on the business environment. Economic conditions, social customs and beliefs, and technological advancements are typically categorized under the economic, social, and technological environments, respectively.
Question : The social environment of business includes factors related to:
Option 1: Government policies and stability
Option 2: Technological advancements
Option 3: Cultural customs and beliefs
Option 4: Economic conditions
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