The Circular Flow Model Shows the Flow Of

question 99

Multiple Choice

The circular flow model shows the flow of:

• A)money in the economy.
• B)financial assets in the economy.
• C)goods and services in the product market.
• D)resources and money in the economy.
• E)resources through the resource markets and their allocation in the product market.

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Definitions:

Stop-Payment Order

A request made to a bank by an account holder to not pay out on a check or transaction previously issued or authorized.

Liability

Legal responsibility for one's actions or inactions, particularly in causing harm to others or to property, which may result in civil or criminal penalties.

UCC

Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Traveler's Check

A preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of the payee's acceptance.