Question : The social environment of business includes:
Option 1: Economic conditions and market trends
Option 2: Government regulations and policies
Option 3: Changes in social attitudes and customs
Option 4: Technological advancements
Correct Answer: Changes in social attitudes and customs
Solution : The correct answer is (C) Changes in social attitudes and customs
The social environment of business includes changes in social attitudes and customs. This environment also encompasses factors such as demographic trends, cultural shifts, and societal values, all of which can significantly impact how businesses operate and interact with their customers. While economic conditions, government regulations, and technological advancements play important roles in business, they are typically categorized under economic, political, and technological environments, respectively.
Question : The demographic environment includes factors related to:
Option 1: Government policies
Option 2: Technological advancements
Option 3: Social attitudes and customs
Option 4: Economic conditions
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