Question : The economic environment of business deals with:
Option 1: Government regulations and policies
Option 2: Technological advancements
Option 3: Social attitudes and customs
Option 4: Overall economic conditions, such as GDP growth and inflation rates
Correct Answer: Overall economic conditions, such as GDP growth and inflation rates
Solution : The correct answer is (D) Overall economic conditions, such as GDP growth and inflation rates
The economic environment of business deals with factors related to the broader economic conditions in which an organization operates. This includes aspects like Gross Domestic Product (GDP) growth, inflation rates, exchange rates, interest rates, unemployment levels, and overall economic stability. These economic factors can significantly impact an organization's operations, financial performance, and strategic decisions.
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