The Idea That All Income Ultimately Goes to Households, Which

question 254

Multiple Choice

The idea that all income ultimately goes to households, which then use it to buy goods and services from firms, is a central idea of the

• A) production possibilities frontier.
• B) supply and demand model.
• C) circular flow diagram.
• D) classical model.

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Definitions:

Digital Divide

Refers to the gap between individuals who have access to modern information and communication technology and those who do not, often due to socioeconomic, geographic, or demographic factors.

Sharing Service

A service that facilitates the sharing of resources, information, or data between users, often via the internet or a network, supporting collaborative efforts and access economy.

Automated Learning

A subset of artificial intelligence that focuses on the development of systems that can learn and improve from experience without being explicitly programmed.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including the services and facilities necessary for its economy to function.