In the Circular Flow Model,there Are Two Types of Markets

question 95

Multiple Choice

In the circular flow model,there are two types of markets: the ________ market and the ________ market.

• A)service;goods
• B)goods;factor
• C)supply;demand
• D)households;firms
• E)producers;consumers

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Definitions:

Marketing Methods

Strategies and techniques used to promote, sell, and distribute a product or service to consumers.

Cold Calls

A sales technique involving unsolicited calls or visits to potential customers who have not previously expressed interest in the offered product or service.

Direct Mail

A marketing strategy that involves sending promotional materials or advertisements directly to potential customers through postal mail.

Qualified Prospects

Potential customers who have been evaluated and found to have a high likelihood of needing and purchasing a product or service.