In the Circular-Flow Diagram,in the Markets for

question 58

Multiple Choice

In the circular-flow diagram,in the markets for

• A)goods and services,households and firms are both sellers.
• B)goods and services,households are buyers and firms are sellers.
• C)the factors of production,households are buyers and firms are sellers.
• D)the factors of production,households and firms are both buyers.

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Definitions:

Hydrogen

Hydrogen is a chemical element with the symbol H and atomic number 1, known as the lightest element in the periodic table and a primary component of water.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance that is the main constituent of Earth's streams, lakes, and oceans.

Potassium

A soft, silvery-white metallic element, very reactive, especially in water, and essential for plant and animal life.

KCl

KCl, known as potassium chloride, is a metal halide salt composed of potassium and chlorine, used in medicine, food processing, and as a fertilizer.