Question : Which environment deals with the study of the relationship between businesses and society.
Option 1: Legal environment
Option 2: Political environment
Option 3: Social environment
Option 4: Cultural environment
Correct Answer: Social environment
Solution : The correct answer is (C) Social environment
The social environment refers to the cultural, societal, and demographic factors that shape the behavior, values, attitudes, and practices of individuals and groups within a given society. It includes the study of social trends, changes in attitudes, customs, and beliefs, and their impact on businesses and organizations. The social environment focuses on understanding the relationship between businesses and society, including topics such as corporate social responsibility, ethical business practices, stakeholder engagement, and the influence of social factors on consumer behavior and market preferences. The social environment plays a significant role in shaping business strategies and decision-making by considering the needs and expectations of society.
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