Question

Given below are two statements:
Statement I: People's attitudes have changed over the years leading to involvement of State (Government) in businesses globally.
Statement II: Increasing technicality is leading to State (Government) to make interventions in businesses 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 Il is correct

Answer 1

The Correct Option is B

Let's analyze the given statements to determine their correctness.

1. Statement I: People's attitudes have changed over the years leading to involvement of State (Government) in businesses globally.
   • This statement suggests that public opinion or attitudes are the primary reason for increased government involvement in businesses. While it's true that societal attitudes can influence government policy, it is not the most widely acknowledged reason for state involvement in businesses. Historically, government involvement is often linked to economic stabilization, market failures, and national interest rather than merely changes in public attitude.
   • Hence, this statement is incorrect.
2. Statement II: Increasing technicality is leading to State (Government) to make interventions in businesses globally.
   • This statement implies that the complexity or technicality of industries has led to more government intervention. While technological advancements often necessitate regulatory updates, this is not consistently the direct cause of increased government intervention. Government interventions are more frequently driven by economic policies, regulatory needs, and to address broader societal impacts of technical change rather than the mere increase in technicality itself.
   • Therefore, this statement is also incorrect.

Since both statements are incorrect, the correct answer is: Both Statement I and Statement II are incorrect.