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

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Definitions:

Representative

Serving as a typical or characteristic example of a group, concept, or category.

Random Sample

A sample that fairly represents a population because each member has an equal chance of inclusion.

Behaviors Or Attitudes

Observable actions or mental positions held by individuals towards objects, people, or concepts.

Replication

The process of repeating a study or experiment to verify its findings under similar conditions.