BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -A business cannot function without capital or money so it cannot be separated from the economic environment.
Detailed explanation-2: -Environment is an integral part of any business. Business cannot work without environment. Business requires good framework of legal, political, social, cultural and economic factors. Both business and environment have influence over each other.
Detailed explanation-3: -Relationship between environment and business Firms operate on four factors of production: natural resources, human resources, capital, and entrepreneurship. This means that natural resources like land, water, and other raw materials gathered from the environment are essential for businesses.
Detailed explanation-4: -The intersection between environment and culture is undeniable, from agriculture to art to the industries and professions that dominate different societies.