In the Circular Flow Model, There Are Two Types of Markets

question 33

Multiple Choice

In the circular flow model, there are two types of markets: the _{--------------------} market and the_{--------------------} Market.

• A)goods; factor
• B)producers; consumers
• C)service; goods
• D)households; firms
• E)supply; demand

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Definitions:

Electrostatic Attractions

The force of attraction between particles with opposite charges, fundamental in chemical bonding and interactions.

Two Molecules

Refers to a pair of molecules, which could be identical or different, involved in a chemical process or reaction.

Sodium Chloride

A chemical compound commonly known as table salt, consisting of sodium and chlorine atoms, used extensively in food preparation and preservation.

Chloride Ion

A negatively charged ion (Cl-) that is an essential electrolyte found in all body fluids, important for maintaining fluid balance and electrical neutrality.