INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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license
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price controls
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tariffs
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disposable income
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Detailed explanation-1: -Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society.
Detailed explanation-2: -Government direct business regulations are federal rules and acts enacted to safeguard businesses and the public interest. Small firms can benefit from these restrictions as they expand. For example, if you operate a construction firm, government rules may demand the use of specific safety equipment on the job site.
Detailed explanation-3: -Under the terms of the Companies Act (1956), which is the company law in India, a company means a company registered under the present Act of the preceding Acts. Thus, a company comes into existence only by registration under the Company Law Act.
Detailed explanation-4: -All businesses, regardless of type, must comply with statutes (laws passed by legislative bodies) and regulations (rules enacted by regulatory agencies to carry out the purposes of statutes). These statutes and regulations can come from all levels of government; federal, state, and local.