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Explain the three main functions of government and how they impact the business environment.
Explain the three main functions of government and how they impact the business environment.
The three main functions of government are legislative, executive, and judicial. The legislative function involves making new laws, amending existing ones, approving spending, scrutinizing executive decisions, and debating important issues. The executive function puts those decisions into effect, and the judicial function interprets laws and adjudicates disputes relating to them. These functions impact the business environment through decisions made and implemented.
How do elections contribute to the dynamic nature of the political environment?
How do elections contribute to the dynamic nature of the political environment?
Elections normally happen every 4-5 years leading to uncertainty and new policies, creating risks and opportunities. This contributes to the dynamic nature of the political environment as major political changes occur, making the environment dynamic with both continuity and change.
Explain the impact of political factors crossing national boundaries on businesses.
Explain the impact of political factors crossing national boundaries on businesses.
Political factors increasingly cross national boundaries, as seen in the EU and WTO. The impact of politics on businesses varies - not all are affected the same way. This indicates that businesses need to navigate and adapt to political factors that transcend national borders.
How does government stability provide continuity in the political environment despite major political changes?
How does government stability provide continuity in the political environment despite major political changes?
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Describe the role of the legislative function of government and its impact on the business environment.
Describe the role of the legislative function of government and its impact on the business environment.
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What are the three main functions of the government?
What are the three main functions of the government?
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Which function of the government involves interpreting laws and adjudicating disputes?
Which function of the government involves interpreting laws and adjudicating disputes?
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What is the formal exercise of power by the government through institutions like cabinets and parliaments called?
What is the formal exercise of power by the government through institutions like cabinets and parliaments called?
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How often do elections normally occur, leading to uncertainty and new policies?
How often do elections normally occur, leading to uncertainty and new policies?
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What is the name for the three sides of the parliament, headed by the Speaker, consisting of government, opposition, and independent?
What is the name for the three sides of the parliament, headed by the Speaker, consisting of government, opposition, and independent?
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