Which of the Following Are Represented by the Same Flow

question 13

Multiple Choice

Which of the following are represented by the same flow in the circular flow model?

• A)the flow of goods and the flow of factors of production
• B)the flow of costs and the flow of revenue
• C)the flow of income earned from the sale of resources and the flow of expenditures on goods and services
• D)the flow of income received by households and the flow of tax revenues paid by firms

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Definitions:

Accumulating

The process of gathering or amassing over a period of time.

Allocating

The process of apportioning costs or resources among departments, activities, or products.

Receiving Report

The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.

Purchased Materials

Raw materials and components that are bought by a company from external suppliers for use in the production process.