Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

P Ltd., a manufacturer of electronics based in Indonesia, seized an opportunity when the Prime Minister of India announced a relaxation in import duties on electronic items. Responding to this favorable development, the company expanded its operations by exporting products to India. In a strategic move, P Ltd. opted to collaborate exclusively with retailers possessing direct online links to suppliers, ensuring efficient stock replenishment. Despite successfully entering the Indian market, P Ltd. remained proactive. The company continuously enhanced its products, particularly in the realm of mobile phones, to stay ahead of competitors' offerings. As the festive season approached, numerous E-commerce sites launched sales, prompting P Ltd. to anticipate increased demand. To meet this surge in demand, the company meticulously arranged resources such as finance and raw materials. Consequently, P Ltd.'s performance witnessed significant improvement.

In the statement, "The festive season was around the corner, so many E-commerce sites came up with sales," which dimension of the business environment is highlighted?

Options:

Economic

Social

Legal

Technological

Correct Answer:

Social

Explanation:

The mention of the festive season and the response of E-commerce sites with sales reflects a social dimension, as it is influenced by cultural and social events.