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Trade policy is mainly influenced by which institution?

Answer and explanation

Correct answer: Government

The government mainly influences trade policy because it makes decisions on import-export rules, tariffs, licences, restrictions and trade agreements. Institutions such as families or sports clubs do not determine national trade policy. Exam tip: In the political environment, link business decisions with government policies and regulations.

Related tags

Business EnvironmentPolitical EnvironmentTrade PolicyGovernment PolicyClass 12 Business StudiesBusiness StudiesClass 12 Mcq

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