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Consumers' incomes fall, so a company increases its range of affordable products instead of premium products. Which dimension of the business environment is involved?

Answer and explanation

Correct answer: Economic dimension

Income affects consumers' purchasing power and demand. Since the company's response is to a change in consumer income, the economic dimension is involved.

Related tags

Business EnvironmentEconomic DimensionConsumer IncomeDimensions Of Business EnvironmentBusiness StudiesClass 12 Mcq

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