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WAEC Commerce 1991 (August) Question 64

Question 64

Business Environment and Social Responsibility

Which of the following are elements of the economic environment of business?

  1. A.Government policy
  2. B.Norm and value
  3. C.Politics
  4. D.inflation and unemployment
  5. E.Family and peer groups
Show the answer and explanation

Answer: D (inflation and unemployment)

Explanation

Inflation and unemployment are economic conditions; government policy and politics belong to the political environment, norms and family to the social environment.