Exhibit 1.2 -Refer to the Circular-Flow Model in Exhibit 1.2. the Flow

question 98

Multiple Choice

Exhibit 1.2

-Refer to the circular-flow model in Exhibit 1.2. The flow from firms to product markets is:

• A) goods and services.
• B) products.
• C) labor, capital, natural resources, and entrepreneurial ability.
• D) resources.
• E) wages, interest, rent, and profit.

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Definitions:

Prairie Potholes

Depressional wetlands scattered throughout the Upper Midwest of the United States and Canada, vital for waterfowl breeding and nesting habitats.

Retreating Glaciers

Glaciers that are diminishing in size and length due to melting, often cited as evidence of global climate change.

Food Chains

A linear sequence of organisms through which nutrients and energy pass as one organism eats another.

Terrestrial Biomes

Large community of plants and animals that occupies a distinct region of land, identified by its climate, soil, and vegetation types.