What is the primary component of the business environment that includes economic
Practice Questions
Q1
What is the primary component of the business environment that includes economic, social, and political factors?
Internal Environment
External Environment
Micro Environment
Macro Environment
Questions & Step-by-Step Solutions
What is the primary component of the business environment that includes economic, social, and political factors?
Correct Answer: Macro environment
Step 1: Understand that the business environment is the setting in which businesses operate.
Step 2: Identify that there are different components of the business environment.
Step 3: Recognize that the macro environment includes large-scale factors that impact all businesses.
Step 4: Learn that the macro environment consists of economic factors (like the economy's health), social factors (like cultural trends), and political factors (like government regulations).
Step 5: Conclude that the primary component of the business environment that includes these factors is called the macro environment.
