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It’s determined by a combination of factors including family background, wealth, income, education, occupation, power, and prestige. Like culture, it affects consumer behavior by shaping individuals’ perceptions of their needs and wants.
Which of the following is an example of political factor?
Political factors include tax policy, environmental regulations, trade restrictions and reform, tariffs, and also political stability. These factors determine the extent to which a government may influence an industry or a company.
Why is political factor important?
Political decisions affect the economic environment. Political decisions influence the country’s socio-cultural environment. Politicians can influence the rate of emergence of new technologies. Politicians can influence acceptance of new technologies.
What is a social political issue?
A distinct but related meaning of the term “social issue” (used particularly in the United States) refers to topics of national political interest, over which the public is deeply divided and which are the subject of intense partisan advocacy, debate, and voting.
Social and economic factors are drivers of the conditions in which people live, learn, work, and play. Factors, such as employment, community safety, income, housing, transportation, educational attainment, social support, and discrimination account for roughly 40% of all health.
Which is not political factors?
Population growth rate is not a political factor that impacts external macro-environment. It is a demographic feature. Population growth rate specifies the rate at which the population is increasing or decreasing.
What is the meaning of social political issue?
sociopolitical
The definition of sociopolitical is something that involves both social and political factors. An example of something that is sociopolitical is the issue of environmental conservation, which is influenced by both social attitudes towards “going green” and by political policies. adjective.
What is the relationship between politics and economics?
The relationship between economics and politics. Economics is concerned with studying and influencing the economy. Politics is the theory and practice of influencing people through the exercise of power, e.g. governments, elections and political parties. In theory, economics could be non-political.
How does politics affect the economy?
The influence of politics on economics. In turn, the state of the economy affects political outcomes, both in the long run and in the short. Economic development affects the evolution of institutions and short run economic conditions affect political change and elections.” This then explicitly implies that there is an intrinsic interrelation between politics and the economy.
What are some examples of political factors?
A political factor is an activity having to do with government policy and its administration that has the potential to change or influence a business. New legislation is one example of a political factor because it can impact the company’s operations by either requiring or prohibiting it to act in a particular way.
What are the principles of Political Economy?
“Principles of Political Economy” focuses on a thorough examination of society’s basis in economic processes. Topically, the book covers production and distribution of goods and services, social progress and its correlation to production and distribution, and the role that governments play in economic systems.