Which of the Following Is an Example of Spending on Factors

question 148

Multiple Choice

Which of the following is an example of spending on factors of production in the circular flow model?

• A)Orson buys a package of beef jerky at a convenience store.
• B)Bernadette gets a manicure and pedicure before attending her parents' anniversary party.
• C)Landon pays $100 for a season pass to a water park.
• D)The "Suds Bucket" car wash buys new squeegees for all its employees.

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Definitions:

Strategic Planning

The process of defining a direction for an organization by setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

Organizational Direction

The guidance or strategy that a company or organization follows to achieve its goals and objectives.

Repetition of Activities

The act of performing the same tasks or procedures multiple times to achieve consistency, proficiency, or for reinforcement.

Critical Thinking Skills

The ability to analyze facts, generate and organize ideas, defend opinions, make comparisons, draw inferences, evaluate arguments, and solve problems.