INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumer spending habits
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Global trade regulations
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Local demographics
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Restricted sales territories
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Detailed explanation-1: -Answer: The four important factors of environmental scanning are events, trends, issues, and expectations. Events are occurrences which takes place in different environmental sectors of a business.
Detailed explanation-2: -What are the Economic Factors? Economic factors affect the economy, including interest rates, tax rates, laws, policies, wages, and governmental activities. These factors are not directly related to the business but influence the investment value in the future.
Detailed explanation-3: -A Broad Factors Analysis assesses and summarizes the four macro-environmental factors-political, economic, socio-demographic (social), and technological. The factors exert a significant effect on a business’s operating environment, posing opportunities and threats to the company and all of its competitors.