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A business environment is made up of several components, including:

Technological environment

Factors that affect the production of goods and services, such as scientific advancements, technology adoption, and the impact of technology on humans.

Economic environment

Factors that have an economic impact on a business, such as GDP growth, inflation rates, interest rates, exchange rates, and economic policies.

Political environment

Factors related to government affairs, such as the type of government in power, the ideology of the ruling party, and the government's attitude towards different groups of societies.

Social and cultural environment

Societal and cultural factors specific to a particular location, such as demographic characteristics, values, customs, beliefs, norms, and social forces.

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