In the Circular Flow Model, the Factor Markets Are the Markets

question 14

Multiple Choice

In the circular flow model, the factor markets are the markets in which

• A) government goods and services are provided.
• B) land, labour, capital and entrepreneurship are bought and sold.
• C) governments impose all their taxes.
• D) investment goods and services are bought and sold.
• E) consumption goods and services are bought and sold.

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Definitions:

Proprietary

Refers to technology, software, or processes owned exclusively by an organization or individual, often protected by copyright or patents.

Developer

A professional who creates and maintains software or applications, skilled in programming languages and software development methodologies.

Open Systems

Computing products that work together by using the same operating system with compatible software on all the computers that interact in an organization.

Computing Products

Electronic devices and software used for processing, storing, and communicating information.