BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

BUSINESS ENVIRONMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
India continues to be a lower middle income country along with 46 others, while Sri Lanka has climbed to the upper middle income group for the fiscal year 2020, according to the World Bank’s classification of countries by income levels, released on July 1, 2019. Identify the related dimensions of business environment.
A
Social Dimension
B
Technological Dimension
C
Economic Dimension
D
Political Dimension
Explanation: 

Detailed explanation-1: -India is likely to join the ranks of middle-income countries in the 2030s but will not have a per-capita gross national income comparable to upper MICs for 25+ years.

Detailed explanation-2: -The categories range from ‘destitute’ (annual household income below Rs 1. 25 lakh or $1, 700 in 2020-21) to the ‘super-rich’ (income over Rs 2 crore or $270, 000 in 2020-21). Households with an annual income of Rs 5 lakh-Rs 30 lakh ($6, 700-$40, 000) form the middle class.

Detailed explanation-3: -Sri Lanka had a GDP of USD 3, 815 in 2021, which currently places the country in the ‘middle-income’ category, according to the World Bank.

Detailed explanation-4: -Sri Lanka’s economy is in a deep slump, shrinking at an annual 8.4% in the June quarter in one of the steepest quarterly declines. Per capita GDP was $3, 815 in 2021, which had placed it in the lower-middle economy category, according to the World Bank.

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