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Why socio-economic factors have a high impact on businesses, whether big or small?
Step by step
Solved in 2 steps
- Find out the microeconomic factor that affects the specific business organization. a. Demand b. All c. Market size d. Supplywhat are The challenges of growing a business?Why are socio-economic factors such as consumer's income capacity, occupation, educational level, marginal utility, total utility, and country's economic growth are important in the business?
- What are four ways that business can benefit society?What role do these entrepreneurial competencies play in the success of the entrepreneur as well as the success of the business?If you have an idea of a product, a process or a service that you think will be in demand, particularly in business and economy as a whole, but you do not have enough capital to start it up, who would you look for?