Which of the following statements is true about businesses?

Question

Quizplus · Accepted Answer

Businesses provide goods and services to consumers and receive payment in the form of money. This is the fundamental principle on which businesses operate.

B, C, D, and E are incorrect because businesses do not have the authority to frame rules and regulations for maintaining law and order, determine the kinds of goods and services governments will use, and do not operate in isolation from other players in the economy. Additionally, businesses are affected by economic cycles and other market forces.

Which of the Following Statements Is True About Businesses