Question:
Which of the following is not an element of the social environment?
Which of the following is not an element of the social environment?
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The social environment shapes business strategies by influencing consumer behavior, cultural trends, and lifestyle choices.
Updated On: Feb 24, 2025
- Composition of family
- Consumption habits
- Rates of saving and investment
- Educational system and literacy rates
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The Correct Option is C
Solution and Explanation
Step 1: Understanding the Social Environment
The social environment includes cultural and social factors such as family structure, lifestyle, consumption patterns, and education.
Step 2: Excluding an Economic Factor
Rates of saving and investment belong to the economic environment, as they relate to financial trends rather than social structures.
The social environment includes cultural and social factors such as family structure, lifestyle, consumption patterns, and education.
Step 2: Excluding an Economic Factor
Rates of saving and investment belong to the economic environment, as they relate to financial trends rather than social structures.
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