Question

Which of the following does not explain the impact of government policy changes on business and industry?

Options

• More demanding customers

• Increasing competition

• Change in agricultural price

• Market orientation

Answer 1

Change in agricultural price

Explanation -

Among the options presented above, the impact of government policy changes on business and industry is not explained by changes in agricultural prices. Government policy changes such as liberalisation, privatisation, and globalisation have an impact on how businesses operate. Customers' increasing demands, increased competition, and market orientation all explain the impact of such policy changes. Changes in agricultural prices, on the other hand, occur independently of government policy changes and are caused by changes in agricultural product demand and supply.