In the Circular Flow Model,which of the Following Is on the Buying

question 73

Multiple Choice

In the circular flow model,which of the following is on the buying side in the goods market?
i.firms
ii.households
iii.federal,state,and local governments

• A) i only
• B) ii only
• C) iii only
• D) i and ii
• E) ii and iii

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Definitions:

Organizational Buying Behavior

The decision-making process and actions of organizations in acquiring goods and services to achieve their goals.

Technical Assistance

Support provided to individuals or organizations in the form of expertise, skills, or knowledge to resolve technical issues.

Delivery Time

The duration it takes for a product or service to be transported from the seller to the recipient after an order has been placed.

Organizational Buying Process

The sequence of steps a business follows when making a purchase decision, including the identification of needs, evaluation of options, and final selection.