In the Circular-Flow Diagram,which of the Following Items Flows from Households

question 199

Multiple Choice

In the circular-flow diagram,which of the following items flows from households to firms through the markets for the factors of production?

• A)goods and services
• B)land,labor,and capital
• C)dollars spent on goods and services
• D)wages,rent,and profit

Identify the most critical step in the new product development process and justify why.

Understand the dynamics of competitive responses in product marketing and development.

Explain the concept of "new-to-the-world" products and their impact on markets and consumer behavior.

Recognize the importance and implications of outsourcing product development.