In the circular-flow diagram, a person or a group of people who share income is a:
A) government.
B) factor.
C) household.
D) firm.

Name: In the circular-flow diagram, a person or a group of people who share income is a: A) government. B) factor. C) household. D) firm.
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Question

Quizplus · Accepted Answer

In the circular-flow diagram, households are the group of people who share income. They provide factors of production (such as labor) to firms in exchange for income in the form of wages, salaries, and profits.

In the Circular-Flow Diagram, a Person or a Group of People