In the Circular Flow of Income, the Allocation of Resources

question 48

Multiple Choice

In the circular flow of income, the allocation of resources is largely decided by

• A)central authorities and firms only.
• B)individuals only.
• C)central authorities only.
• D)firms and households acting independently.
• E)political parties and firms only.

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Definitions:

Cancer

A group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body.

European Americans

Individuals residing in the United States who are of European descent or origin.

Implicit Forms

Indirect, suggested, or understood without being openly expressed or stated.

Social Support

The perception or reality of being cared for, valued, and part of a supportive social network, which can provide emotional, informational, or practical assistance.