In the Circular-Flow Diagram

question 248

Multiple Choice

In the circular-flow diagram,

• A)taxes flow from households to firms,and transfer payments flow from firms to households.
• B)income payments flow from firms to households,and sales revenue flows from households to firms.
• C)resources flow from firms to households,and goods and services flow from households to firms.
• D)inputs and outputs flow in the same direction as the flow of dollars,from firms to households.

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Definitions:

Climate

Generalized weather patterns of an area, primarily determined by temperature and average rainfall.

Cleansing

The process of making something clean, either physically by removing dirt and impurities, or metaphorically, as in purifying the mind or body.

Ecotourism

Responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and involves interpretation and education.

Indirect Value

The benefits provided by biodiversity that do not have direct economic value, such as climate regulation and pollination.