In the Circular-Flow Diagram, Payments for Labour, Land, and Capital

question 2

True/False

In the circular-flow diagram, payments for labour, land, and capital flow from firms to households through the markets for the factors of production.

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Definitions:

Tap

A tool used to cut internal threads into a hole, creating a surface that can accommodate a screw or bolt.

American Society of Mechanical Engineers

A professional association that sets engineering standards, focusing on mechanical engineering.

ASME

American Society of Mechanical Engineers, a professional association that sets codes and standards for engineering practices, especially concerning mechanical engineering.

Threads

The helical structure on a cylindrical object such as a screw or bolt, allowing it to be screwed into a corresponding threaded hole or nut.