In the Circular-Flow Diagram, in the Markets for

question 118

Multiple Choice

In the circular-flow diagram, in the markets for

• A)goods and services, households and firms are both buyers.
• B)the factors of production, households are sellers and firms are buyers.
• C)goods and services, households are sellers and firms are buyers.
• D)the factors of production, households and firms are both buyers.

---

Definitions:

Identity Crisis

A developmental event characterized by uncertainty, confusion, and anxiety regarding one's sense of self or place in the world, often occurring during adolescence.

College

An educational institution or part of one, offering degree programs beyond the high school level.

Free Will-Determinism

A philosophical debate regarding the extent to which human behaviors and decisions are determined by external forces versus individual choice.

Erikson

Refers to Erik Erikson, a developmental psychologist known for his theory on psychosocial development across the lifespan.