Which Statement About the Market and Nonmarket Is Not Correct

question 2

Multiple Choice

Which statement about the market and nonmarket is not correct?

• A)The market environment includes owners, employees, suppliers, customers, and competitors.
• B)The nonmarket environment includes interactions with society and government.
• C)The nonmarket environment structures (laws and regulations) how business operates in the market environment and the positions of firms in the market, and it creates opportunities for and threats to business.
• D)The market environment creates issues of special interest that are addressed in the nonmarket environment.
• E)All these statements are correct.

Understand the fundamental principles of international trade.

Identify the major trade agreements and their member countries.

Recognize the historical trends in global trade and shifts in the world's largest exporters.

Calculate and interpret trade balances, net exports, and their impact on GDP.

---

Definitions:

Machine-Hour

A measure of production output or usage time based on the hours a machine is operated.

Unit Product Cost

The cost assigned to a single unit of product, comprising both variable and fixed manufacturing costs.

Overhead Applied

The amount of manufacturing overhead expenses assigned to a particular job or activity, based on a predetermined rate.

Job P978

A specific job, project, or batch in a costing system assigned with a unique identifier for tracking costs.