3 Marks Each

Question

What opportunities do business environment create?

Vidyadip · Accepted Answer

Opportunities created by business environment:

If the country follows capitalistic type economic system, it means that the country will adopt a policy of free trade. In this system, the government allows
the producer to take all the major decisions with respect to production and distribution. The business unit can take advantage of this policy.
Government implements several schemes for the growth of the three major sectors such as agriculture, industries and service. These schemes open new doors of growth and opportunities.
As the developing country grows, industries such as transport, communication, banking and insurance, etc. also get boosted. New employment is generated and national income increases.
When the national income increases, demand for luxurious and prestigious products increase. This creates opportunities for market of such products.
With the advancement of society, people’s preference, taste and adaptability towards new goods increase. This gives rise to new markets and hence opportunities.
If changes in the monetary policy are positive, the demand for capital for new businesses, new house, etc. increases. Also, opportunities for steel, cement, banking and insurance, etc, industries increase.
Ruling parties can pass certain acts favourable to the society and industry. These acts create business opportunities. For example, development of public infrastructure, cleanliness drive, moving to eco-friendly products, etc. all create new opportunities.

Answer