The Simple Circular flOw Model Shows That _____

question 8

Multiple Choice

The simple circular flow model shows that _____.

• A) firms supply inputs to households and households supply output to firms
• B) households supply goods and services to the economy
• C) firms supply output to households and households supply inputs to firms
• D) households supply both output and inputs to the economy

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Definitions:

Dynamically Continuous Innovation

Innovations that represent a significant change to an existing product or service, requiring a modest amount of learning or behavior change.

Prego Pasta Bake Sauce

A brand of pasta sauce marketed by Campbell Soup Company, designed for easy preparation of baked pasta dishes.

Continuous Innovation

The ongoing process of developing and introducing new products, services, or processes to respond to changing market conditions or technological advances.

New Behaviors

Actions or patterns of activity that are novel or different from a person's or group's previous activities.