Rajat is running a catering business. He provides catering services for marriages. He was informed by a priest of the temple that for the next 45 days there are no marriages as the dates are not auspicious for marriage. But after that, for 10 days there will be many marriages due to a good Omen. Hearing this, Rajat started collecting raw material such as rice, sugar, flour, spices etc., as the price of these resources are low due to low demand at present.

Identify the importance of business environment given in the above para.

Helps in tapping useful resources

The correct answer is option (3)- Helps in tapping useful resources

The correct importance of the business environment based on the scenario described is Helps in tapping useful resources.

Rajat’s decision to start collecting raw materials like rice, sugar, flour, and spices when their prices are low due to low demand reflects his ability to tap useful resources. By analyzing the business environment and anticipating future demand (based on the information from the priest about upcoming marriages), he takes advantage of the current low prices, which helps him manage costs and be prepared for the higher demand in the future. This showcases how understanding the business environment allows Rajat to make strategic decisions in resource management.