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djchewinggum djchewinggum
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A firm sets up a paper-manufacturing factory in a country which has very strict regulations regarding disposal of industrial waste. This increases the cost of production of the firm. This is an example of the social environment of the firm.

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Textbook 

Business in Action


Edition: 9th
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Moh1995abdelMoh1995abdel
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More questions for this book are available here
false

Every business operates within the broad social environment. Social environment refers to the trends and forces in society at large. The legal and regulatory environment includes the sum of laws and regulations at local, state, national, and even international levels.

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