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Business Studies

Importance and Features of Business Environment

Business envi...

Question

Business environment is the sum total of all things _ to business firms and, as such, is _ in nature.

A

External; aggregative

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B

Internal; aggregative

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C

External; subjective

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D

Internal; optional

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Solution

The correct option is A External; aggregative
Business environment is the sum total of all things external to business firms and, as such, is aggregative in nature. Any business works within the framework provided by the various elements of society, which is known as business environment.

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