A Simple Circular Flow Diagram Shows That the Factors of Production

question 55

Multiple Choice

A simple circular flow diagram shows that the factors of production are

• A) owned by the government.
• B) purchased by households.
• C) purchased by businesses.
• D) traded in the market for goods and services.

---

Definitions:

SWOT Analysis

a strategic planning tool used to identify and assess Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Marketing Actions

Refers to the strategies and tactics companies use to promote and sell their products or services to consumers.

Opportunity

A favorable situation or set of circumstances that presents itself, which can potentially lead to growth, development, or success if capitalized on properly.

Strength

An attribute or internal capability of a company or individual that provides a competitive advantage in the market or enhances performance.