As the Circular Flow Model Points Out,a Choice That Households

question 190

Multiple Choice

As the circular flow model points out,a choice that households make is how

• A) many resources a firm will hire.
• B) many goods and services are produced.
• C) many goods and services are purchased.
• D) much labor is hired.
• E) much the government will collect in taxes and how much the government will spend on transfer payments.

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Definitions:

Market

The arena in which commercial dealings are conducted, often referring to the supply and demand for goods and services.

Business Structure

The legal and organizational framework chosen for a company, affecting liability, taxes, and management strategy.

Potential Customers

Individuals or organizations that might have an interest or need in a company's offerings but have not yet concluded a purchase transaction.

Market Section

A specific segment or part of a market that a business targets as part of its marketing and sales strategies.