In accordance with the economic planning, the government of India gave a lead role to the public sectors for infrastructure industries whereas the private sectors was broadly given the responsibility of developing consumer goods industry. At the same time, the government imposed several restrictions, requisitions and controls on the working of private sector enterprises. Identify the dimension(s) of business environment highlighted above.a)Economic environmentb)Legal environmentc)Political environmentd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?

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In accordance with the economic planning, the government of India gave a lead role to the public sectors for infrastructure industries whereas the private sectors was broadly given the responsibility of developing consumer goods industry. At the same time, the government imposed several restrictions, requisitions and controls on the working of private sector enterprises. Identify the dimension(s) of business environment highlighted above.

a)
Economic environment
b)
Legal environment
c)
Political environment
d)
All of the above

Correct answer is option 'D'. Can you explain this answer?

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In accordance with the economic planning, the government of India gave...

The dimension(s) of business environment highlighted in the given scenario are:

1. Economic environment:
The government's economic planning and policies have a significant impact on the business environment. In this case, the government gave a lead role to public sectors in infrastructure industries and imposed restrictions and controls on the private sector. Such policies directly affect the economic environment of the country and the business operations of the companies.

2. Legal environment:
The restrictions and controls imposed by the government on the private sector are part of the legal environment. The government's policies and regulations create a framework within which businesses operate. Any changes in the legal environment can have a significant impact on the business environment and the operations of the companies.

3. Political environment:
The policies and regulations of the government are influenced by the political environment of the country. In this case, the government's decision to give a lead role to public sectors and impose restrictions on the private sector is influenced by political ideology and considerations. The political environment can have a significant impact on the business environment, especially in countries where the government has a strong role in the economy.

Therefore, the correct answer is option 'D' - all of the above. The scenario highlights the impact of economic, legal, and political factors on the business environment.

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