What does net secondary income (NSY) refer to in economic transactions?

Net secondary income (NSY) refers to transactions that do not involve the exchange of goods or services in return. This typically includes transfers such as remittances, gifts, and grants, where one entity provides resources to another without receiving anything tangible in return. These transactions are crucial for understanding the flow of financial resources across borders and how they contribute to the overall economic well-being of different economies.

The other options do not accurately describe NSY. Transactions involving goods and services exchanged characterize primary income flows, while direct market exchanges focus on trade that is typically measured through the balance of goods. Market-related transfers, while related to economic activity, often involve some form of exchange or direct return value, which is not the case with net secondary income. Thus, the definition encompassing non-reciprocal transfers makes option B the accurately defining choice for net secondary income.