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An imbalance between demand and supply raises the price of edible oil, leading a retailer to change its strategy. Which dimension of the business environment is involved?

Answer and explanation

Correct answer: Economic dimension

The correct answer is B, the economic dimension. Demand, supply and prices are economic factors, and the price increase is what prompts the retailer to change its strategy.

Related tags

Business EnvironmentEconomic DimensionDemand And SupplyDimensions Of Business EnvironmentBusiness StudiesClass 12 Mcq

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