According to the Circular Flow Diagram, the Dollar Value of a Nation's

question 8

Multiple Choice

According to the circular flow diagram, the dollar value of a nation's output is equal to

• A)net income minus taxes.
• B)total income.
• C)profits.
• D)wages.

---

Definitions:

Own Competition

A strategy where a company competes with its own products in the market to cater to different customer needs or market segments.

Licensee

An individual or entity that has been granted legal permission by a licensor to use, produce, or sell someone else's product, technology, or intellectual property.

Direct Ownership

A method of entering an international market in which a domestic firm actively manages a foreign company or overseas facilities.

Assembly Plant

A facility used for industrial production where pieces of products are put together to construct a finished good.