Question : Which environment deals with the study of laws and regulations affecting business operations
Option 1: Legal environment
Option 2: Social environment
Option 3: Technological environment
Option 4: Political environment
Correct Answer: Legal environment
Solution : The correct answer is (A) Legal environment
The legal environment refers to the system of laws, regulations, and legal frameworks that govern business activities and operations. It involves understanding and complying with laws related to contracts, intellectual property, employment, taxation, health and safety, environmental protection, consumer protection, and other legal aspects that impact businesses. The legal environment shapes the rules and guidelines that businesses must follow to ensure legal and ethical practices. Organizations need to navigate the legal environment to ensure compliance, mitigate legal risks, and protect their interests.
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