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 (FY) 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: -Sri Lanka was upgraded to an upper middle-income country in July 2019 by the World Bank after the country’s Gross National Income (GNI) increased from US$ 3, 840 in 2018 to US$ 3, 996.

Detailed explanation-3: -I guess any income of a family of 4 consisting of income range of 10 lakhs to 25 lakhs is considered as upper middle class in India. They have about 40 percent to 50 percent of income left to save and invest after spending on necessities.

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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