Jorge finds he has lost out to his major competitor on three recent contracts.Through his customers,he learns his competitor has cut prices and lowered financing costs.Jorge is observing a change in his _____________ environment.
A)Economic
B)Technological
C)Social and cultural
D)Natural
E)Legal and political

Question

Quizplus · Accepted Answer

The economic environment refers to factors such as market conditions, competition, pricing strategies, and financing options. In this scenario, the competitor's ability to cut prices and lower financing costs has impacted Jorge's business negatively, indicating a shift in the economic environment.

Jorge Finds He Has Lost Out to His Major Competitor