In the Simple Circular-Flow Diagram,households

question 35

Multiple Choice

In the simple circular-flow diagram,households

• A)are the only decision makers.
• B)own the factors of production.
• C)are buyers of inputs.
• D)consume only some of the goods and services that firms produce.

Identify key personal traits and characteristics of successful entrepreneurs.

Recognize different sources of finance for businesses, including debt and equity options.

Understand the attitudes and personal interests that motivate entrepreneurs.

Distinguish between various backgrounds and experiences of entrepreneurs.

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Definitions:

Job Outcomes

The results or outputs of individuals' work performances, including productivity, efficiency, quality, and satisfaction levels.

Empowerment

The process of increasing the capacity of individuals or groups to make choices and transform those choices into desired actions and outcomes.

Amount of Experience

Refers to the length of time or the depth of engagement one has had in a particular activity, job, or field, often impacting their skill level and proficiency.

Servant Leadership

A leadership philosophy which emphasizes the leader's role as serving the needs of others first, promoting the growth and well-being of communities and individuals.