Which of the Following Statements Is True About a Simple

question 30

Multiple Choice

Which of the following statements is true about a simple circular flow model?

• A)Producers are neither buyers nor sellers in the product market.
• B)Households are neither buyers nor sellers in the input market.
• C)Producers are buyers in the factors market.
• D)Households are sellers in the product market.

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Definitions:

Proof

Evidence or argument establishing a fact or the truth of a statement or proposition.

Conviction

In the conviction step of the prospect’s mental buying process, the salesperson should strive to develop a strong belief that the product is best suited to the prospect’s specific needs. It is established when no doubts remain about purchasing the product.

Trial Close

A sales technique where the seller asks a prospective buyer for their opinion or a minor decision regarding the sale, used to gauge interest or objections early.

Questions

Inquiries made to gather information, clarify doubts, or engage in a conversation, critical in sales, research, and daily communication.