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JAMB Commerce 1999 Question 47

Question 47

Business Environment and Social Responsibility

Which of these sets of external environmental factors affect a business operation?

  1. A.Competition, industry and product
  2. B.Competition, labour and political
  3. C.Political, cultural and labour
  4. D.Economic, social and legal.
Show the answer and explanation

Answer: D (Economic, social and legal.)

Explanation

Economic, social and legal factors are outside the firm and affect it.