BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money supply in the economic
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Consumer protection act
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The constitution of the country
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Composition of family
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Detailed explanation-1: -Among the options given in the question, composition of family represents an example of social environment. If the composition of family is such that it comprises of more of children than elderly persons then, this implies greater business opportunity for baby product companies.
Detailed explanation-2: -Composition of family is an example of social environment. Social environment consists of the customs and traditions of the society in which business is existing. It includes the standard of living, taste, preference and education level of people living in the society where business exists.
Detailed explanation-3: -Technology is not an example of social environment. The social environment refers to the environment which is surrounded by a social setting in which the people act upon. Thus technological factor does not come under the social environment.
Detailed explanation-4: -1 Answer. Components of social environment are expectations from workforce, educational system and literacy rates and birth and death rates.