Match List I with List II.

Choose the correct answer from the options given below :

A-I, B-II, C-IV, D-III

The correct answer is option 1- A-I, B-II, C-IV, D-III.

(A) Social- (I) Literacy rates.
The social environment of business include the social forces like customs and traditions, values, social trends, society’s expectations from business, etc. Traditions define social practices that have lasted for decades or even centuries. Major Elements of Social Environment- * Attitudes towards product innovations, lifestyles, occupational distribution and consumer preferences * Concern with quality of life * Life expectancy * Expectations from the workforce * Shifts in the presence of women in the workforce * Birth and death rates * Population shifts * Educational system and literacy rates * Consumption habits * Composition of family.

(B) Economic- (II) Public Debt (internal and external).
The economic environment refers to the conditions and factors that affect the functioning of businesses and organizations within an economy. It encompasses various aspects related to the economic system. Some Components of Economic Environment are as follows- Existing structure of the economy in terms of relative role of private and public sectors * The rates of growth of GNP and per capita income at current and constant prices * Rates of saving and investment * Volume of imports and exports of different items * Balance of payments and changes in foreign exchange reserves * Agricultural and industrial production trends * Expansion of transportation and communication facilities. * Money supply in the economy * Public debt (internal and external) * Planned outlay in private and public sector.

(C) Technological- (IV) Scientific improvements.
Technological environment includes forces relating to scientific improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business. For example, recent technological, advances in computers and electronics have modified the ways in which companies advertise their products. It is common now to see computerised information kiosks, and World Wide Web multimedia pages highlighting the virtues of products. Similarly, retailers have direct links with suppliers who replenish stocks when needed. Manufacturers have flexible manufacturing systems. Airline companies have Internet and World Wide Web pages where customers can look for flight times, destinations and fares and book their tickets online.

(D) Legal- (III) Monopolistic Restrictive Trade Practices Act.
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. It is imperative for the management of every enterprise to obey the law of the land. Therefore, an adequate knowledge of rules and regulations framed by the Government is a pre-requisite for better business performance. Non-compliance of laws can land the business enterprise into legal problems. In India, Constitutional Provisions; Companies Act 2013; Industries (Development and Regulations) Act 1951; Foreign Exchange Management Act and the Imports and Exports (Control) Act 1947; Factories Act, 1948; Trade Union Act; 1926; Workmen’s Compensation Act, 1923; Industrial Disputes Act, 1947, Consumer Protection Act, 1986, Competition Act, 2002 and host of such other legal enactments as amended from time to time by the Parliament, is important for doing business.