In the Circular Flow Diagram, Who Owns the Factors of Production

question 247

Short Answer

In the circular flow diagram, who owns the factors of production and consumes all of the goods and services produced?

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Definitions:

Thylakoid Space

The internal compartment formed by the inner membrane of a thylakoid in chloroplasts, where the light-dependent reactions of photosynthesis occur.

Electron Transport

A series of chemical reactions within cells that transfers electrons from electron donors to electron acceptors, resulting in the synthesis of ATP.

CAM Strategies

CAM strategies refer to Crassulacean Acid Metabolism, a photosynthetic adaptation used by some plants to minimize water loss by fixing CO2 at night.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water, generating oxygen as a byproduct.