What is micro environment?
It refers to all those external factors which are closely related with business and influence each industrial unit differently.
Write three impacts of technological environment on business.
The following are the examples of impact of technological environment on business:
(i) With the advent of television in the market, the cinema and the radio industry were adversely affected.
(ii) With the arrival of the photostat machines in the market, the carbon paper industry suffered a set back.
(iii) With the entry of synthetic thread in the market, the cotton cloth industry was badly affected.
Write any one effect of economic environment on business.
After reforms were introduced in the banking sector, the bank loans were allowed on easy terms.
Why economic policies are framed?
The economic policies are laid down to direct the economic activities.
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