Question

3.
The Economic Survey suggests
1 point
that psychological biases can be used
in the realm of tax compliance. It is in
favour of using religious norms such
"dying in debt is a sin" to improve tax
compliance. Identify the related
dimensions of business environment
OTS (Wigh
Legal dimension and social
dimension
Social dimension and economic
dimension
Technological dimension and
political dimension
Political dimension and economic
the clity and comm
hat she wanted to
Selling Propositions
franty abled peop​

Answer 1

Answer:

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Answer 2

Answer:

The dimensions of the business environment related to the given case are the social dimension and economic dimension.

Explanation:

Social dimension:

• Rather than being unbiased in these dimensions, every business's management can benefit from being aware of them.
• Traditions, values, social trends, level of education, the standard of living, and other social influences make up the social environment.
• All of these factors have a significant impact on the corporate world.
• Tradition: It refers to long-standing societal customs such as Ugadi, Deepavali, Id, Christmas, and so on.
• Impact: Increased demand during festivals opens doors for a variety of businesses.
• Values: It relates to societal moral values such as market freedom, social justice, equality of opportunity, and non-discriminatory activities, among others.
• Impact: Companies that believe in values have a positive reputation in society and find it easier to market their goods.
• Social Trends: A social shift or development, such as the health and fitness trend among city dwellers, is an example of a social trend.
• Impact: The health and fitness craze has fueled demand for gyms, mineral water, and other fitness-related products.

Economic dimension:

• An economic system, economic policies, and the economic conditions that exist in a country make up the economic environment.
• The economic environment is influenced by elements such as interest rates, taxes, inflation, stock market indices, the value of the rupee, personal disposable income, unemployment rate, and so on.

Hence, in favour of religious norms social and economic dimensions of the business environment are considered.

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