Q.Mention the six components of the macro environment.

The macro environment is usually studied under six broad heads that together capture every economy-wide force affecting business. …

The macro environment, sometimes called the general environment, consists of broad forces that affect every business operating in an economy, not just one specific firm. It is conventionally studied under six components. The economic environment covers income levels, prices, and government economic policy. The social/cultural environment covers the values, customs, and lifestyle of society. The political-legal environment covers government stability and the laws and regulations that govern business conduct. The technological environment covers the pace of innovation, automation, and research. The demographic environment covers population size, age structure, and literacy levels. Finally, the natural or ecological environment covers climate, natural resources, and environmental regulation. Each of these si …

Students often merge 'social' and 'demographic' into one component because both relate to population, but they are distinct: social/cultural covers values, customs, and attitudes, while demographic …