Question

Which of the following is an example of social environment?

Options

• Money supply in the economy

• Consumer Protection Act

• The constitution of the country

• Composition of family

Answer 1

Composition of family

Explanation - 

The term "social environment" refers to the social forces that influence business opportunities and performance, such as customs, traditions, social values, social trends, and so on. Among the options provided in the question, family composition is an example of social environment. If the composition of a family is such that children outnumber elderly people, this implies a greater business opportunity for baby product companies.