In the simple circular-flow diagram,who consumes the goods and services that firms produce?
A) households only
B) firms only
C) both households and firms
D) neither households nor firms
Correct Answer:
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Q63: In the simple circular-flow diagram,households
A)are the only
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Q69: Factors of production are
A)the mathematical calculations firms
Q75: Which of these terms are used interchangeably?
A)"goods
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A)firms are buyers in
Q94: In the circular-flow diagram,
A)factors of production flow
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A)goods
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Q214: Another term for factors of production is
A)inputs.
B)output.
C)goods.
D)services.
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