The Inner Loop of the Circular-Flow Diagram Represents the Flows

question 166

Multiple Choice

The inner loop of the circular-flow diagram represents the flows of inputs and outputs.Which of the following does not appear on the inner loop?

• A)wages
• B)land
• C)capital
• D)goods and services sold

Understand McClelland's acquired needs theory and its application in the work environment.

Differentiate between hygiene factors and motivators according to Herzberg's theory.

Recognize the role of expectancy, instrumentality, and valence in motivation according to expectancy theory.

Understand the principles and applications of organizational behavior modification.

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Definitions:

Budget Constraint

Represents the combinations of goods and services an individual can purchase given their income and the prices of those goods and services.

Clothing

Textile and fabric materials worn on the body, designed for reasons ranging from functional protection to cultural and personal expression.

Food

Any nutritious substance that people or animals eat or drink in order to maintain life and growth.

Budget Constraint

A concept in economics that represents all the combinations of goods and services a consumer can afford given their income level and the prices of goods.