Which of the following is a part of social environment?

Customs and traditions

The correct answer is Option (2) - Customs and traditions. 

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. For example, the celebration of Diwali, Eid, Christmas, and GuruParv in India provides significant financial opportunities for greetings card companies, sweets or confectionery manufacturers, tailoring outlets and many other related business. Values refer to concepts that a society holds in high esteem. In India, individual freedom, social justice, equality of opportunity and national integration are examples of major values cherished by all of us. In business terms, these values translate into freedom of choice in the market, business’s responsibility towards the society and non-discriminatory employment practices. Social trends present various opportunities and threats to business enterprises.

* Stock market indices- It is part of economic environment.

* Computerised information kiosks- It is part of technological environment.

* The nature of relationship of our country with foreign countries- It is part of political environment.