CSEET · Economic and Business Environment · Business Environment
Which of the following is an example of a change in the technological component of the macro environment of Indian businesses?
The widespread adoption of UPI digital payments is a technological change affecting businesses across the whole economy, so it belongs to the macro environment. Competitor price cuts, supplier price rises and union wage demands are firm-specific and arise from the immediate micro environment.
- AA competitor cutting prices by 5%
- BWidespread adoption of UPI-based digital payments by retailers and consumersCorrect
- CA supplier raising prices of raw cotton
- DAn employee union demanding higher wages
Explanation
Widespread adoption of UPI is a technological development affecting businesses across the economy, so it is a macro technological factor. A competitor's price cut, a supplier's price rise and a union demand are specific to the firm or its immediate dealings, so they are micro factors.
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