ACCA Applied Knowledge · Business and Technology · Social and demographic factors
Which of the following best describes 'culture' as a social factor affecting a business?
Culture means the shared values, beliefs, customs and norms of a society or group. It influences buying behaviour and expectations. Population age and gender profile is demography, and household income and wealth are economic factors, so neither describes culture.
- AThe shared values, beliefs, customs and norms of a society or groupCorrect
- BThe age and gender profile of a country's population
- CThe level of income and wealth held by households in a country
Explanation
Culture is the set of shared values, beliefs, customs and norms that shape how people in a society behave and what they buy. The age and gender profile is demography, and income and wealth are economic factors.
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