ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In contrast, the macro environment refers to broader factors that can affect a business. Examples of these factors include demographic, ecological, political, economic, socio-cultural, and technological factors.

Detailed explanation-2: -Macro Environmental factors Six components of macro environment are Demographic, Economic, Natural, Technological, Political and Cultural environments.

Detailed explanation-3: -Technological forces form a crucial influence in the Macro Environment. They relate to factors that create new technologies and thereby create new products and market opportunities or threats. Obvious technological developments include wireless communication and business techniques, smartphone applications, etc.

Detailed explanation-4: -Political factors in the macro environment include taxation, tariffs, trade agreements, labour regulations, and environmental regulations. Note that in PESTEL, factors are not characterized as opportunities or threats.

Detailed explanation-5: -1] Socio-Cultural Environment. Browse more Topics under Introduction To Business Environment. 2] Technological Environment. 3] Economic Conditions of the Market. 4] Ecology and Physical Environment. 5] Political and Legal Factors.