In the Circular Flow Model,which of the Following Owns the Factors

question 74

Multiple Choice

In the circular flow model,which of the following owns the factors of production?

• A) only federal, state, and local governments
• B) only households
• C) only firms
• D) both firms and households
• E) firms, households, and all levels of government

---

Definitions:

Revolutionary War

The war fought between 1775 and 1783 when the American colonies won independence from British rule; also known as the American Revolutionary War.

British Support

Assistance or backing provided by the United Kingdom, which may involve diplomatic, military, or economic aid to other countries or entities.

Battle of Yorktown

The decisive engagement in 1781 during the American Revolutionary War, where American and French forces defeated British troops, leading to the end of major hostilities.

Nathaniel Greene

A major general of the Continental Army in the American Revolutionary War, known for his successful military strategies against the British in the southern campaign.