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Problem:
(a) Define ‘Business Environment'.
(b) Briefly distinguish between internal and external environments of business.
(c) Discuss on the key components of the general environment of business.
(d) Analyse the difference between ‘micro/operating environment and ‘macro/general environment'.
Probelm 2:
"Doing business today is radically different from what it was just 20 years ago. To be effective in this rapidly moving and ever-changing environment, organisations need to do things better, faster and meet the increasing demands of their customers".
Discuss on the factors that are considered to be crucial for an organisation's survival in the 21st Century.
What are the major area of decision making ? How does economic theory contribute to managerial decision ?
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(a) Name three types of government interventions and 3 economic factors affecting the business environment and with given example explain how these affect the business environment.
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#discuss the theory of costs in relation to business operations.you should identify different types of costs and explain how the supply curve is constructed for an organisation?
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