The Circular Flow Model Shows That Households Use Income For

question 17

Multiple Choice

The circular flow model shows that households use income for:

• A) consumption, saving, and factor payments.
• B) consumption, taxes, and factor payments.
• C) taxes, saving, and factor payments.
• D) consumption, taxes, and saving.

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Definitions:

Bronze

An alloy of copper and tin, often used for sculpture, tools, weapons, and building materials in ancient and medieval periods due to its hardness and durability.

Hindu Stone Temples

Religious structures constructed from stone in Hinduism to house deities and provide space for ceremonies and pilgrimages.

Gal Vihara

A rock temple of the Buddha situated in Sri Lanka, known for its massive carved Buddha statues dating from the 12th century.

Elephanta

An island near Mumbai, India, known for its cave temples that are carved out of rock and dedicated to the Hindu god Shiva.