Which Actor in the Simplified Circular Flow Model Is on the Supply

question 1

Multiple Choice

Which actor in the simplified circular flow model is on the supply side of the goods market?

• A) Firms
• B) Households
• C) Markets for factors of production
• D) Government

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Definitions:

Chronic Disease

A long-lasting condition that can be controlled but not cured, often affecting a person's quality of life over an extended period.

Disease-Specific

Pertaining to or characteristic of a particular disease, often used to describe care, guidelines, or interventions.

Long-Term Health Insurance

Insurance designed to cover the costs of long-term care services, including both medical and non-medical needs, usually at a later stage in life.

Morning Sickness

Nausea and vomiting that typically occurs during the early stages of pregnancy, often in the morning.