Question

Given below are two statements:
Statement I :Changing competition in market place is the primary reason for govt involvement in business globally.
Statement II:Increase in cost of production is the primary reason for govt in business globally.
In the light of the above statements,choose the most appropriate answer from the options given below:

• A. Both Statement I and Statement II are correct
• B. Both Statement I and Statement II are incorrect
• C. Statement I is correct but Statement II is incorrect
• D. Statement I is incorrect but Statement II is correct

Answer 1

The Correct Option is C

The changing competitive dynamics in the global market often prompt governments to intervene in business to regulate competition and maintain market fairness, while the cost of production is a secondary factor.