The correct answer is option (1) : (A)-(III), (B)-(IV), (C)-(I), (D)-(II)
(A) Legal Environment - (III) Statutory warning such as "cigarette smoking is injurious to health" :
- The legal environment of the business refers to the framework of rules, regulations, and laws that businesses need to adhere to. This can include regulations related to health, safety, consumer protection, and more. The presence of statutory warnings such as "cigarette smoking is injurious to health" falls under the legal environment.
(B) Political Environment - (IV) Practices of the ruling party :
- The political environment refers to the influence of government institutions and political factors on businesses. This includes policies, regulations, and practices that are influenced or implemented by the ruling party. Understanding the practices of the ruling party is crucial for businesses to assess the potential impact of political decisions on their operations.
(C) Economic Environment - (I) Rate of savings and investment :
- The economic environment encompasses factors such as the overall economic conditions, economic policies, and indicators that influence the business environment. The rate of savings and investment is a key economic indicator that reflects the level of savings and investments in an economy, which can significantly impact business activities.
(D) Technological Environment - (II) Innovations and Inventions:
- The technological environment involves the impact of technology on the business environment, including innovations, inventions, and advancements that shape the way businesses operate. Monitoring innovations and inventions is crucial for businesses to stay competitive and adapt to technology changes in their industry.
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