In the Circular Flow Diagram,________ Supply the Factors of Production,and

question 2

Multiple Choice

In the circular flow diagram,________ supply the factors of production,and ________ goods and services.

• A)households; sell
• B)households; buy
• C)firms; sell
• D)firms; buy

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Definitions:

Historical Demand

Past data on customer purchases used for analyzing trends to forecast future demand.

Multiplicative Form

A mathematical approach where variables are multiplied to estimate outcomes in models or equations.

Systematic Component

In statistical analysis, the part of variation that can be attributed to identifiable factors, typically following a predictable pattern.

Seasonal Factor

Variations in business or trading activities that occur at the same time every year.