The decrease in interest rates of home loans increase spending of consumers for buying residential property. Identify the dimension of business environment.
This question was previously asked in
Shift 16/06/2023 3:30 PM - 6:30 PM
A
Political
B
Economic
C
Social
D
Legal
Correct Answer
Economic
Detailed Explanation
The decrease in interest rates of home loans, leading to increased consumer spending on residential property, is associated with the Economic dimension of the business environment. Economic factors, such as interest rates, inflation, and economic growth, significantly impact consumer behavior and business operations.
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