Within the Circular Flow Model, Economists Define Households as

question 113

Multiple Choice

Within the circular flow model, economists define households as

• A)individuals or groups within the same legally defined family.
• B)married or engaged couples.
• C)families living in their own houses.
• D)individuals or groups living together.
• E)families with at least 2 children.

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Definitions:

Commercial Purposes

Activities or operations intended for business interests, including transactions or endeavors aimed at generating profit.

Real Property

Immovable property consisting of land and the buildings and plant life thereon.

Acre of Land

A unit of area used in the imperial and US customary systems, equivalent to 43,560 square feet, commonly used in measuring parcels of land.

Sofa

A piece of furniture designed for seating multiple people, typically upholstered and used in living rooms or lounges.