BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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government policies related to pricing
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the constitutional framework
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goverment policies related to import and export
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all of the above
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Detailed explanation-1: -The legal environment includes the laws passed by the government as well as the decisions rendered by the various commissions and agencies at every level of the government. It’s important that every business must function according to the law of the area in which it wishes to operate.
Detailed explanation-2: -Legal Environment of business consists of various legislations passed by the government administrative orders issued by the Government authorities court judgements and decisions rendered by various commissions and agencies set up at every level of the government.
Detailed explanation-3: -Act of Parliamentarians in Lok Sabha is not an element of legal environment since legal environment constitutes the laws and various legislations passed in the parliament.
Detailed explanation-4: -Legal Environment: It constitutes the laws and legislations passed by the Government, administrative orders, court judgments, decisions of various commissions and agencies. Businessmen have to act according to various legislations and their knowledge Very necessary.