Banking sector reform have led to easier credit terms and better services. This is an example of one of the key components of business environment.
Name this component and explain it in brief.

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Solution

Economic environment- The term economic environment refers to all the external economic factors that influence buying habits of consumers and businesses and therefore affect the performance of a company. These factors are often beyond a company’s control, and may be either large-scale (macro) or small-scale (micro).

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Banking sector reform have led to easier credit terms and better services. This is an example of one of the key components of business environment.Name this component and explain it in brief.

Banking sector reform have led to easier credit terms and better services. This is an example of one of the key components of business environment.
Name this component and explain it in brief.