BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Enhanced competition
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Static technology
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Market orientation
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Necessity for change
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Detailed explanation-1: -Economic policies are fiscal policies, Industrial policies, taxation policy, exchange rates, EXIM policy but not technological policy.
Detailed explanation-2: -Reduction in physical restrictions on imports and import duties. Reduction in controls on foreign exchange, both current and capital account. Reform of financial system. Reduction in levels of personal and corporate taxation.
Detailed explanation-3: -Detailed Solution. The correct answer is Centralization.
Detailed explanation-4: -The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.