Question

"An increase in taxes by government can make things expensive to buy." Identify the related dimension of business environment.

Answer 1

Answer:

Increase in taxes by government can make things expensive to buy. Technological improvements may render existing products obsolete. ... Changes in fashions and tastes of consumers may shift demand in the market from existing products to new ones. Increased competition in the market may reduce profit margins of firms

Explanation:

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Answer 2

An increase in taxes by government can make things expensive to buy affects the economic environment.

Explanation:

• An increase in the taxes by the government can make changes in the economic environment of the firms.

• As the taxes and subsidies can lead to a change in the prices of the goods and services. It also affects the quantities of services consumed.  

• The taxation and subsidies affect the marginal supply and demand curves. That shifts towards the right side, it also affects the elasticity of demand.  

• The four major types of taxes that the government put are related to income, sale, property, and excise duty. This reduces customer spending and will impact the rate of doing business with the country.

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• brainly.in/question/18318304 answered by  femina09.