26 Questions
What is one of the responsibilities of business towards the government according to the text?
Regular payment of taxes
How can business houses contribute to government contracts?
By carrying out the projects according to required specifications and standards
What is an example of a voluntary programme that the government expects businesses to cooperate with?
Promoting education
In what way are some business houses involved in political activities according to the text?
By making monetary contributions to political parties, particularly at the time of elections
What is one way in which business houses provide service to the government?
By being included in advisory boards and delegations exploring trade and industry prospects
What is the primary role of the government as a regulator?
Ensuring healthy competition and protecting business agreements
In what capacity does the government work to protect the general environment of business?
Government as regulator
What is the primary focus of the government as a promoter?
Schemes for agriculture and disadvantaged groups
Which level does the government work at to ensure healthy competition and protect business agreements?
All of the above
What type of protection does the government offer to creative works of intellectual property (IP)?
Protection to creative works of IP
What is the impact of government policy on business and industry with reference to liberalisation, privatisation, and globalisation?
Enhanced market opportunities and increased foreign investment
What is one of the roles of the government as an entrepreneur?
Directly engaging in commercial activities and establishing public enterprises
How does the government work to protect the general environment of business?
By formulating and implementing regulations to ensure sustainable business practices
What is one of the responsibilities of business towards the government according to the text?
Participating in voluntary programs that benefit society and citizens
Which level does the government work at to ensure healthy competition and protect business agreements?
Union level, State level, & Local level
What is one way in which business houses provide service to the government?
By contributing to economic development and public welfare initiatives
What is the primary responsibility of every businessman towards the Government according to the text?
Regular payment of taxes
How can business houses contribute to government contracts as per the text?
By lobbying for specific projects
In what way do some influential and competent businessmen serve the Government according to the text?
By serving in advisory boards and delegations for trade and industry prospectus
What type of contributions are business houses involved in when it comes to political activities according to the text?
Lobbying for securing legislation
How do business houses provide service to the Government according to the text?
By serving in advisory boards and delegations for trade and industry prospectus
What is the primary focus of the government as a planner according to the text?
Budgeting resource allocation
In what capacity does the government work to protect the general environment of business according to the text?
As a regulator
How does the government work to protect creative works of intellectual property (IP) according to the text?
By working as a regulator
What is an example of a voluntary programme that the government expects businesses to cooperate with according to the text?
Sponsoring social welfare programmes
What level does the government work at to ensure healthy competition and protect business agreements according to the text?
As a regulator
Study Notes
Responsibilities of Business and Government
- Business houses are expected to contribute to government contracts by participating in the bidding process.
- One of the responsibilities of business towards the government is to pay taxes and comply with regulations.
- Business houses provide service to the government by offering their expertise and resources.
Role of Government
- The primary role of the government as a regulator is to ensure that businesses operate fairly and within the bounds of the law.
- The government works to protect the general environment of business by providing a conducive environment for businesses to operate.
- The primary focus of the government as a promoter is to encourage entrepreneurship and economic growth.
- The government works at the macro level to ensure healthy competition and protect business agreements.
- The government offers protection to creative works of intellectual property (IP) through patents, copyrights, and trademarks.
Government Programs and Policies
- The government expects businesses to cooperate with voluntary programmes, such as environmental sustainability initiatives.
- The impact of government policy on business and industry is significant, with policies such as liberalisation, privatisation, and globalisation affecting the business environment.
- The government works as an entrepreneur by setting up public enterprises and investing in key sectors.
Business and Government Interaction
- Some business houses are involved in political activities, such as lobbying and making political contributions.
- Influential and competent businessmen may serve the government as advisors or members of government committees.
- Business houses may contribute to political activities through voluntary programmes, such as community development initiatives.
Test your understanding of the relationship between government and business, including cooperation, conflict, and the impact of government policies on business and industry. Explore the roles of government as a regulator, promoter, planner, and entrepreneur in business.
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