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Demand for luxury home-decor products fell as a minimalist lifestyle became more popular among customers. Which dimension of the business environment does this illustrate?

Answer and explanation

Correct answer: Social dimension

Lifestyle preferences reflect social values and changing tastes. Their effect on demand therefore illustrates the social dimension.

Related tags

Business EnvironmentSocial DimensionLifestyleDimensions Of Business EnvironmentBusiness StudiesClass 12 Mcq

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