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Which of the following factors is considered a social factor in the business env

Practice Questions

Q1
Which of the following factors is considered a social factor in the business environment?
  1. Interest rates
  2. Cultural trends
  3. Government policies
  4. Technological advancements

Questions & Step-by-Step Solutions

Which of the following factors is considered a social factor in the business environment?
  • Step 1: Understand what a social factor is. Social factors are elements that relate to the society and culture in which a business operates.
  • Step 2: Identify examples of social factors. These can include cultural trends, demographics, lifestyle changes, and social attitudes.
  • Step 3: Recognize that cultural trends specifically refer to the popular ideas and behaviors in society that can affect how consumers think and act.
  • Step 4: Conclude that cultural trends are indeed a social factor because they influence consumer behavior and how businesses operate.
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