Read the following passage and answer the question.
A recent cut in the interest on loans announced by the SBIM Bank encouraged Anaya, a science student of Imperial School to take a loan from SBIM Bank to experiment and develop cars to be powered by fuel produced from garbage. She developed such a car and exhibited it at science fair organised by DOE. She was awarded Ist prize for his invention.
Which of the following force is highlighted in the above passage?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Both of these.
* A recent cut in the interest on loans announced by the SBIM Bank - Economic environment.
Economic Environment: Interest rates, inflation rates, changes in disposable income of people, stock market indices and the value of rupee are some of the economic factors that can affect management practices in a business enterprise. Short and long term interest rates significantly affect the demand for product and services.
* Develop cars to be powered by fuel produced from garbage- Technological environment.
Technological environment includes forces relating to scientific improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business.
Thus both environment are highlighted in the given passage.