Which of the Following Characterizes the Nonmarket Component of Business

question 16

Multiple Choice

Which of the following characterizes the nonmarket component of business environment?

• A) It includes those interactions between firms, suppliers, and customers that are governed by markets and contracts.
• B) The interactions of firms typically involve voluntary economic transactions and the exchange of property.
• C) Activities in the nonmarket environment may be voluntary or involuntary.
• D) Effective management in the nonmarket environment is not a necessary condition for superior performance.