BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cell phones have taken over the market from landline phone
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There has been a movement for improving education facilities for girls. This would lead to increase in the demand for school dress, books, stationery, etc.
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To tackle the problem of recession, RB has allowed the commercial banks to reduce the interest rates on
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Artificial fibre cloth has killed the pure cotton textiles industries
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Detailed explanation-1: -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-2: -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-3: -Social environment is defined as the social practices around a man and the interactions that exist between him and other men (people) in the groups – family, peer group, school, community and institution. The social practices around man include customs, language, food, dressing norms etc.