CSEET · Economic and Business Environment · Entrepreneurship Scenario
Which of the following is an example of an external environmental factor that creates a business opportunity for an entrepreneur?
Rising demand for electric vehicles backed by government incentives is an external environmental factor that creates opportunity. It arises from market trends and policy outside the firm, whereas personal preferences, savings habits or office layout are internal matters.
- ARising demand for electric vehicles supported by government incentivesCorrect
- BThe entrepreneur's own preference for a certain colour
- CThe owner's personal savings habits
- DThe internal seating plan of the office
Explanation
External factors such as consumer trends and government policy lie outside the firm and can open new markets. Personal preferences, savings habits and office layout are internal or personal matters, not environmental opportunities.
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