In the Circular-Flow Diagram,which of the Following Items Flows from Households

question 22

Multiple Choice

In the circular-flow diagram,which of the following items flows from households to firms through the markets for goods and services?

• A)goods and services
• B)dollars paid to land,labor,and capital
• C)dollars spent on goods and services
• D)wages,rent,and profit

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Definitions:

Static Reasoning

A characteristic of preoperational thought in which a young child thinks that nothing changes. Whatever is now has always been and always will be.

Concrete Operational

A stage of cognitive development in children, proposed by Piaget, occurring roughly between the ages of 7 and 12, during which children gain a better understanding of mental operations and physical concepts.

Middle Childhood

The developmental stage between early childhood and adolescence, typically from ages 6 to 12, marked by increased cognitive, social, and emotional development.

Formal Operational

A stage of cognitive development proposed by Jean Piaget, occurring from adolescence onwards, when individuals develop the ability to think abstractly, logically, and systematically.