In the Circular Flow Model, Which of the Following Is

question 194

Multiple Choice

In the circular flow model, which of the following is on the buying side in the goods market?
i. firms
ii. households
iii. federal, state, and local governments

• A)i and ii
• B)i only
• C)ii only
• D)ii and iii
• E)iii only

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Definitions:

Lease of Over Three Years

A legal agreement granting possession and use of property for a period exceeding three years, subject to specific conditions.

Landlord

An individual or entity that owns property and permits another party to use it in exchange for rent.

Parcel of Land

A parcel of land is a specific piece or tract of land, often defined by boundaries for purposes of ownership, development, or sale.

Covenant Runs

Legal obligations or promises in a deed or lease that bind or benefit the parties involved and their successors in title.