Question

5. Cost of production increased due to increase in minimum wage rate by government
is an example of
(a) economic dimension (b) Political dimension
(c) Social dimension (d) Legal dimension
Aust​

Answer 1

Answer:

political dimension

Explanation:

I don't know but answer is correct

Answer 2

Answer:

The correct option is B i.e, Political Environment

Explanation:

The political environment consists of the forces concerning management of public affairs and their impact on business. It includes political conditions in the country and attitude of the government towards business and business policy.

Political stability; Political ideology; Political outlook on business sector; degree of politicisation of business and economic issues.

Any interfere by government in business which impact their performance whether it is in good sense or in bad sense are come under the political environment.

• Economic environment consists of the factors and forces concerning with mean of production and distribution of wealth.
• Social environment consists of all the social and cultural forces within which business firms separate.
• Legal environment consists of all laws and regulation of country.

So Cost of production increased due to increase in minimum wages rate by government is an example of Political Environment.

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