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What is the role of government in the business environment?

Practice Questions

Q1
What is the role of government in the business environment?
  1. To eliminate competition
  2. To regulate and support businesses
  3. To control pricing of all goods
  4. To manage employee relations

Questions & Step-by-Step Solutions

What is the role of government in the business environment?
  • Step 1: Understand that the government creates laws that businesses must follow.
  • Step 2: Recognize that these laws help protect consumers, workers, and the environment.
  • Step 3: Learn that the government provides support to businesses, such as grants or loans.
  • Step 4: Know that the government regulates industries to ensure fair competition.
  • Step 5: Realize that the government collects taxes from businesses to fund public services.
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