BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The demographic segment is concerned with a population’s size, age structure, geographic distribution, ethnic mix, and income distribution. • The economic environment refers to the nature and direction of the economy in which a firm competes or may compete.

Detailed explanation-2: -The political/legal segment of an environment represents: how organizations and governments mutually try to influence each other.

Detailed explanation-3: -The economic segment centers on the economic conditions within which organizations operate. It includes elements such as interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy (Figure 3.5 “Economic Factors”).

Detailed explanation-4: -Economic environment includes all those forces which have an economic impact on business.