Question : Which of the following about the impact of economic reforms of the businesses is incorrect?
Option 1: Increased competition in the market gives the customer wider choice.
Option 2: The business environment was quite stable and business plans and policies were continued for the long period of time.
Option 3: Increase competition made it compulsory for Indian firm to develop new ways to survive in the market.
Option 4: All of the above are correct.
Correct Answer:
The business environment was quite stable and business plans and policies were continued for the long period of time.
Solution :
Before the economic reform, the business environment was quite stable in business plans and policies used to continue for the long period of time. However after reforms, the market forces have become trubulent and enterprises have to continuously modified their operations and policies.
Hence Option B is correct.