A Simple Circular Flow Diagram Shows That the Factors of Production

question 55

Multiple Choice

A simple circular flow diagram shows that the factors of production are

• A) owned by the government.
• B) purchased by households.
• C) purchased by businesses.
• D) traded in the market for goods and services.

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Definitions:

Subjective Experience

refers to the personal and internal perceptions, feelings, or thoughts that an individual has, which are inherently unique and cannot be directly known to others.

Behavioral

relates to actions, responses, or reactions of individuals or systems in response to external or internal stimuli.

Physiological

Pertaining to the functions and activities of living organisms and their parts, including all physical and chemical processes.

Trembling

Involuntary shaking or quivering movements, often resulting from emotional states, cold, or medical conditions.