Consider the Household Sector

question 21

Multiple Choice

Consider the household sector. According to the circular flow model, firms:

• A) only demand from this market
• B) both supply to and demand from this market
• C) neither supply to nor demand from this market
• D) only supply to this market

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Definitions:

Horny Scales

Hardened skin structures found in certain animals, like reptiles, for protection and water retention.

Jawless Fish

Fish species that belong to the superclass Agnatha, which lack true jaws, including lampreys and hagfish.

Lamprey

A jawless fish known for its funnel-like sucking mouth, some species of which are parasitic and attach to other fish.

Gelatinous Covering

A thick, jelly-like substance that coats or surrounds certain cells or organisms, often serving protective or structural functions.