Step 1: Analyzing Environmental Factor Correlations.
- Economic (A): Economic influences shape investment choices, exemplified by KYC requirements for mutual funds, aligning with (I).
- Social (B): Societal patterns, like construction firms favoring low interest rates, correspond to (II).
- Legal (C): The legal framework involves governmental efforts to ensure stability and order, which matches (III).
- Political (D): Political dynamics encompass cyclical demand increases during festive periods, correlating with (IV).
Step 2: Determining the Correct Association.
The established pairings are:
(A) - (II), (B) - (IV), (C) - (III), (D) - (I).
Final Answer: \[\boxed{\text{The correct answer is (1) (A) - (II), (B) - (IV), (C) - (III), (D) - (I).}}\]