In the Simplest Circular-Flow Model,households Supply _____ and Demand _____

question 4

Multiple Choice

In the simplest circular-flow model,households supply _____ and demand _____.

• A)capital;barter
• B)wages and income;capital markets
• C)factors of production;goods and services
• D)firms;markets

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Definitions:

Discrepancy

A difference between two or more items, facts, or figures, often leading to further investigation or analysis.

Acculturation

Changing to adapt to a new culture.

Bicultural

Refers to individuals or systems combining or navigating between two distinct cultures, typically involving the assimilation of elements from both.

Bilingual

The ability to speak and understand two languages with a high level of proficiency.