Question

The critical elements of macro-economic environment are:
I. Economic system
II. Economic legislation
III. Economic Planning
IV. Economic Policy Statements
Of these:

• A. I and II are correct
• B. II and IV are correct
• C. I, II and III are correct
• D. All are correct

Answer 1

The correct option is D All are correct

For an economy to run smoothly and maintain order, there has to be an economic system that is governed by legislation, and constant planning is undertaken in order to add new and review existing policies to further develop the economy.