Match List I with List II
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LIST I |
LIST II |
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A. Social Environment |
I. Changes in disposable Income |
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B. Legal Environment |
II. Stability and peace in the Country |
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C. Economic Environment |
III. Court Judgements |
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D. Political Environment |
IV. Customs and Traditions |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → A-IV, B-III, C-I, D-II
A. Social Environment → IV. Customs and Traditions — Social environment includes social forces like customs and traditions, values and social trends.
B. Legal Environment → III. Court Judgements — Legal environment includes laws, administrative orders and court judgments.
C. Economic Environment → I. Changes in disposable Income — Interest rates, inflation, changes in disposable income and the value of the rupee are economic factors.
D. Political Environment → II. Stability and peace in the Country — Political environment includes conditions such as general stability and peace in the country.
NCERT (2026-27 Edition): “(ii) Social Environment: … Traditions define social practices that have lasted for decades or even centuries. For example, the celebration of Diwali, Eid, Christmas, and Guru Parv in India provides significant financial opportunities for greetings card companies, sweets or confectionery manufacturers, tailoring outlets and many other related business. …” “(v) Legal Environment: Legal environment includes various legislations passed by the Government administrative orders issued by government authorities, court judgments as well as the decisions rendered by various commissions and agencies at every level of the government— centre, state or local. …” “(i) Economic Environment: Interest rates, inflation rates, changes in disposable income of people, stock market indices and the value of rupee are some of the economic factors that can affect management practices in a business enterprise. Short and long term interest rates significantly affect the demand for product and services. …” “(iv) Political Environment: Political environment includes political conditions such as general stability and peace in the country and specific attitudes that elected government representatives hold towards business. The significance of political conditions in business success lies in the predictability of business activities under stable political conditions. …” |