The Two Basic Markets Shown by the Simple Circular Flow

question 50

Multiple Choice

The two basic markets shown by the simple circular flow model are:

• A)capital goods and consumer goods.
• B)free and controlled.
• C)product and factor.
• D)household and business.

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Definitions:

Performance Targets

Specific goals set for individuals or teams to achieve within a set timeframe, often used as a measure of productivity or quality in the workplace.

Visions

Describes a company's future aspirations or long-term goals, providing a framework for strategic planning and decision-making.

Business

The practice of making one's living by engaging in commerce, trade, and services.

Operational Decisions

Decisions that relate to the daily operations of an organization, aimed at optimizing efficiency, productivity, and quality in the creation of products or services.