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Question
Societal shocks are not among the principal components of strategic significance in the PESTEL analysis because they are
1. Caused by political factors including the extent to which government intervenes in the economy in an ongoing manner.
2. Dictated by foreseeable economic conditions that include the general economic climate and specific factors such as interest rates, inflation rate, and unemployment rate, as well as conditions in the stock and bond markets that can affect consumer confidence.
3. Associated with anticipated sociocultural forces that include societal values, attitudes, cultural factors, and lifestyles that impact business.
4. The result of technological factors that include the pace of change and technical developments that have the potential for improving society.
5. Much harder for companies to anticipate and prepare for because they often begin with little warning.
With regard to the liability of the sole proprietor for debts and obligations of the sole proprietorship, which of the answer choices is true?
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