Customs, Such as Raising Your Hand to Speak in Class

question 42

Multiple Choice

Customs, such as raising your hand to speak in class, are called:

• A) social laws
• B) self-regulated behaviors
• C) social regulations
• D) standards

---

Definitions:

Competitors

Other businesses or individuals who offer similar goods or services, competing for the same customers or market share.

Market

A venue or environment where buyers and sellers interact to trade goods, services, or information, often setting prices through supply and demand.

Supplier Power

An assessment of how much power a supplier has over the prices and terms of supply, affecting the buying company's costs and strategies.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or business use.