Products Such as Refined Sugar, Certain Bulk Chemicals, Paint, and Petroleum

question 43

Multiple Choice

Products such as refined sugar, certain bulk chemicals, paint, and petroleum products

• A) cannot travel through a global supply chain.
• B) have low value-to-weight ratios.
• C) come from offshore factories.
• D) have high value-to-weight ratios.

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Definitions:

Households

The basic economic units consisting of all individuals who live together and make joint decisions on consumption and labor supply.

Firms

Entities that produce goods or provide services, typically with the aim of making a profit.

Monetary Policy

The actions of a central bank, currency board or other regulatory authorities that determine the size and rate of growth of the money supply, which in turn affects interest rates.

Circular-Flow Diagram

A visual model showing the interactions between households and firms in an economy, illustrating the flows of goods and services and factors of production in markets.