Consider the following statements about the social environment of business:
(A) Values refer to concepts that a society holds in high esteem.
(B) Social trends define social practices that have lasted for decades or even centuries.
(C) The health-and-fitness trend has become popular among a large number of rural dwellers.
(D) In India, social justice and equality of opportunity are examples of major values cherished by all of us.
(E) Social trends present various opportunities and threats to business enterprises.
Which of the statements given above are correct?
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (D) and (E) only
(A) Values refer to concepts that a society holds in high esteem. — Correct. Values are ideas that a society respects highly. In business, they show up as freedom of choice in the market and fair employment practices.
(B) Social trends define social practices that have lasted for decades or even centuries. — Incorrect. It is traditions that define practices lasting for decades or centuries, such as the celebration of Diwali, Eid and Christmas. Social trends are newer changes in the way people live.
(C) The health-and-fitness trend has become popular among a large number of rural dwellers. — Incorrect. The trend has become popular among urban dwellers, the people of towns and cities. It created demand for organic food, gyms and bottled water.
(D) In India, social justice and equality of opportunity are examples of major values cherished by all of us. — Correct. Individual freedom, social justice, equality of opportunity and national integration are major values in India.
(E) Social trends present various opportunities and threats to business enterprises. — Correct. A social trend can open new markets or shrink old ones. The fitness trend, for example, gave new business opportunities to gyms and food-supplement makers.
NCERT (2026-27 Edition): “(ii) Social Environment: … Traditions define social practices that have lasted for decades or even centuries. For example, the celebration of Diwali, Eid, Christmas, and Guru Parv in India provides significant financial opportunities for greetings card companies, sweets or confectionery manufacturers, tailoring outlets and many other related business. Values refer to concepts that a society holds in high esteem. In India, individual freedom, social justice, equality of opportunity and national integration are examples of major values cherished by all of us. In business terms, these values translate into freedom of choice in the market, business’s responsibility towards the society and non-discriminatory employment practices. Social trends present various opportunities and threats to business enterprises. For example, the health-and-fitness trend has become popular among large number of urban dwellers. This has created a demand for products like organic food, gyms, bottled (mineral) water and food supplements.” |