Marketers Should Be Aware of Laws and Government Regulations That

question 22

Multiple Choice

Marketers should be aware of laws and government regulations that influence or limit various organizations and individuals in a given society. This is most accurately described as the ________ environment.

• A) legal
• B) cultural
• C) competitive
• D) technological
• E) economic

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Definitions:

Average Tax Rate

The portion of total income that is paid as tax, calculated by dividing the total tax amount by the taxable income.

Tax Base

The total amount of assets or revenue that a government can tax to fund its operations and services.

Sectors

Distinct parts or areas within an economy, characterized by a specific kind of activity, such as the agricultural, manufacturing, or service sector.