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Question
Explain the following term/concept.
Political environment.
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Solution
- Government and its policies affect business firms.
- It includes stability and peace in the country, specifically attitudes of elected representatives. The ideology of the political parties influences the business organization and attitudes of government officials towards business has an impact on business.
- It comprises .three vital institutions like Legislature, Government, and Judiciary.
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| Column I | Column II | |
| (i) | Complexity | Very difficult to predict future happenings. |
| (ii) | Specific forces | Easier to understand in parts but difficult to grasp in its totality. |
| (iii) | Uncertainty | Affect individual enterprises directly and immediately. |
|
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The above information highlights one of the features of 'Business Environment'. Identify the feature from the following:
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