Q 9. __________ is considered a major element of the political environment. (1)(a) The extent and nature of government intervention in business;(b) planned outlay in public and private sectors;(c) Expectations from the workforce;(d) Administrative order issued by government authorities
Question
Q 9. __________ is considered a major element of the political environment. (1)(a) The extent and nature of government intervention in business;(b) planned outlay in public and private sectors;(c) Expectations from the workforce;(d) Administrative order issued by government authorities
Solution
The correct answer is (a) The extent and nature of government intervention in business. This is considered a major element of the political environment because it can significantly impact the way businesses operate. Government intervention can take many forms, including regulations, taxes, and subsidies. These interventions can affect a variety of business activities, from the products and services a company can offer, to the way it manages its workforce, to the prices it can charge. Therefore, understanding the extent and nature of government intervention is crucial for businesses operating in any political environment.
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