A business entity operates in two general markets. They are:
A)a producer and a consumer market.
B)an economic and a fiscal market.
C)an input and an output market.
D)a profit and a non-profit market.

Question

Quizplus · Accepted Answer

An input market refers to the purchase of goods and services by a business entity to be used in the production process, while an output market refers to the sale of goods and services produced by the entity to consumers. Therefore, a business entity operates in both an input and an output market. Option A only covers one aspect of a business entity's operations, Option B refers to different economic concepts, and Option D is not a universally recognized market segmentation.

A Business Entity Operates in Two General Markets