Which of the following is an example of Social Environment?

Educational system and literacy rates

The correct answer is option 1- Educational system and literacy rates.

Educational system and literacy rates is an example of Social Environment.

The social environment of business include the social forces like customs and traditions, values, social trends, society’s expectations from business, etc. Traditions define social practices that have lasted for decades or even centuries. Major Elements of Social Environment-
* Attitudes towards product innovations, lifestyles, occupational distribution and consumer preferences
* Concern with quality of life
* Life expectancy
* Expectations from the workforce
* Shifts in the presence of women in the workforce
* Birth and death rates
* Population shifts
* Educational system and literacy rates
* Consumption habits
* Composition of family

OTHER OPTIONS

• Rates of saving and investment- Economic environment
• Dominant ideologies and values of major political parties- Political environment
• Planned outlay in private and public sectors- Economic environment