3 Views

Question : Which of the following is a component of the competitive environment?
 


 

Option 1: Suppliers

Option 2: Customers

Option 3: Economic conditions

 

Option 4: Technological advancements


Team Careers360 5th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Suppliers


Solution : The correct answer is (A) Suppliers

Suppliers are a component of the competitive environment. The competitive environment includes entities and factors that directly impact a company's competitiveness and its ability to serve its customers. Suppliers are one of these entities as they provide the resources and materials necessary for a business to produce its goods or services, and they can influence a company's cost structure and product availability. While customers, economic conditions, and technological advancements are important factors, they are typically considered elements of the broader business environment rather than the competitive environment.

Related Questions

UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
SLAT 2025 - The Symbiosis Law...
Apply
Conducted by Symbiosis International (Deemed University) | Ranked #5 in Law by NIRF | Ranked #2 among best Pvt Universities by QS World Rankings
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships
Symbiosis Law School Pune Adm...
Apply
NAAC A++ Accredited | Ranked #5 by NIRF
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC
ISBR Business School PGDM Adm...
Apply
180+ Companies | Highest CTC 15 LPA | Average CTC 7.5 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business Scho...
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books