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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.
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
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QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
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