12. The conditions and forces that affect the cost and availability of goods, se

Question

12. The conditions and forces that affect the cost and availability of goods, services and labor and shape the behavior of buyers and sellers are BEST described as the environment. a. market c. social d. economic e. regulatory 13. Every company operates within a market environment composed of three important groups: its target customers, buying influences, and a. the workforce raw material costs c. d. its competitors e. government policies and procedures 14. The policies and practices of government bodies would shape the environment for a business. a. technological b. market c. legal and regulatory d. economic e. social 15. All internal and external groups affected by a company's activities are referred to as itsL a. employees b. suppliers c. shareholder e. customer

Explanation / Answer

12: (d) Economic Environment

Economic Environment is a part of pestel analysis which consists of explaining the economic factors, that affect a business. Such as cost of goods, labour etc.

13. (d) it's competitors.

Competitors are one of the most important groups.

14. (c) legal and regulatory environment.

The government frames rules and regulations within which an organization has to operate.

15. (d) stakeholders.

Stakeholders are the groups which has interest in the organization and are directly or indirectly affected by the organization activities

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