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.
The factors mentioned in the above passage related to...............
Answer & explanation
Correct answer: option 2
The correct answer is option 2- General force.
A recent cut in the interest on loans announced by the SBIM Bank - Economic environment
Develop cars to be powered by fuel produced from garbage- Technological environment
Both Economic environment & Technological environment are general forces.
Business environment includes both specific and general forces.
Specific forces (such as investors, customers, competitors and suppliers) affect individual enterprises directly and immediately in their day-to-day working.
General forces (such as economic, social, political, legal and technological conditions) have impact on all business enterprises and thus may affect an individual firm only indirectly.