In the Circular-Flow Diagram, Firms Own the Factors of Production

question 6

True/False

In the circular-flow diagram, firms own the factors of production and use them to produce goods and services.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, influencing future behavior choices.

Classical Conditioning

A training procedure where a response initially provoked by a second stimulus comes to be triggered by the first stimulus after both are paired together repeatedly.

LEGO

A brand of plastic construction toys consisting of interlocking plastic building blocks.

Goldfish

A small freshwater fish commonly kept as a pet in aquariums, known for its variety of colors and breeds.