Chapter 3 - What is a Business Environment?
(Questions and Answers)
CBSE Class 12 - Business Studies
Q1: Define Business Environment.
Answer: Business environment means the sum total of the factors which influence the business and over which the business has no control. The study of business environment enables the managers to identify threats and opportunities.
Q2: What is the basic difference between economic & non – economic environment?
Answer: The economic environment consist of factor like the fiscal policy, the monetary policy , the industrial policy, the pace of the economic development etc. The non-economic environment refer to social, cultural, political, legal, technological factor etc.
Q3: What are the features of Business Environment?