Kirsten, a manager, is writing an analysis of her employer's current and possible future revenues. Which of the following could she identify as an economic factor in her firm's external general environment?
1) the government regulations and laws in the country in which the firm exists
2) the stage of the business cycle that the country is in
3) the values and norms prevalent in the society in which the firm operates
4) the bargaining power of the firm's suppliers and buyers
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