A sudden drop in the average consumer income would be an example of which environmental factor?

Question

Quizplus · Accepted Answer

A sudden drop in average consumer income is related to the economic environment factor, as it pertains to the financial conditions and market forces that impact the purchasing power of consumers. Competitive factors involve rivalry among businesses, technological factors relate to advancements in technology that impact products or processes, social factors relate to cultural or societal influences, and regulatory factors involve governmental policies and regulations.

A Sudden Drop in the Average Consumer Income Would Be