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Identify the macro-environmental factors affecting business operations as described by the following.

StatementFactor
Law and policies that regulate business activities. 
Affects buyer’s ability to buy commodities offered by a business. 
Firms selling similar products trying to outdo each other.  
Dictates how people live and what products they consume. 

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StatementFactor
Law and policies that regulate business activities.Legal- political
Affects buyer’s ability to buy commodities offered by a business.Economic 
Firms selling similar products trying to outdo each other. Competitive 
Dictates how people live and what products they consume.Cultural 
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