ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Micro environmental factors are specific to a company and can influence the operation of a company and management’s ability to meet the goals of the business. Examples of these factors include the company’s suppliers, resellers, customers, and competition.
Detailed explanation-2: -Suppliers are part of the macro-environment.
Detailed explanation-3: -Macro Environmental factors Six components of macro environment are Demographic, Economic, Natural, Technological, Political and Cultural environments.
Detailed explanation-4: -Some of the micro-environmental factors include customers, employees, distribution channels, suppliers, media and the general public. Macro Environment are the major external and uncontrollable factors that influence an organization ‘s decision making, and affect its performance and strategies.