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Demand for premium products rose as customers’ incomes increased. Which dimension of the business environment does this illustrate?

Answer and explanation

Correct answer: Economic dimension

Income affects customers’ purchasing power and ability to buy higher-priced products. Income and purchasing power are economic factors, so this illustrates the economic dimension.

Related tags

Business EnvironmentEconomic DimensionIncomeDimensions Of Business EnvironmentBusiness StudiesClass 12 Mcq

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