“The celebration of Diwali, Eid, Christmas, and Guru Parv in India provides significant financial opportunities for greetings card companies, sweets or confectionery manufacturers, tailoring outlets and many other related businesses”. This statement indicates which dimension of Business Environment?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Social
Option (1) Economic — Incorrect. The statement speaks of financial opportunities, but their source is a festival, not an economic factor such as income, interest rates or prices. It is the result for business, not the dimension.
Option (2) Political — Incorrect. The political environment is about government stability and its attitude towards business.
Option (3) Legal — Incorrect. The legal environment is made up of laws and orders passed by the government and the courts.
Option (4) Social — Correct. The social environment includes customs, traditions, values and social trends. Traditions are social practices that have lasted for decades or centuries, and the celebration of festivals is one of them. These traditions create business chances for sellers of cards, sweets and clothes.
NCERT (2026-27 Edition): “(ii) Social Environment: … Traditions define social practices that have lasted for decades or even centuries. For example, the celebration of Diwali, Eid, Christmas, and Guru Parv in India provides significant financial opportunities for greetings card companies, sweets or confectionery manufacturers, tailoring outlets and many other related business. …” |