Which Markets Are Represented in the Simple Circular-Flow Diagram

question 245

Multiple Choice

Which markets are represented in the simple circular-flow diagram?

• A)markets for goods and services and markets for financial assets
• B)markets for factors of production and markets for financial assets
• C)markets for goods and services and markets for factors of production
• D)markets for goods and services and markets for imports and exports

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Definitions:

Load Leg

A component or part of an electrical circuit that carries current from the source to a load and then back to the source, completing the electrical circuit.

Delta-Delta Transformer

A type of three-phase transformer connection where both the primary and secondary windings are connected in a delta configuration.

Turns Ratio

The ratio of the number of turns in the primary winding to the number of turns in the secondary winding of a transformer, determining its voltage transformation characteristics.

Primary Voltage

The voltage at the input of a transformer or any primary side of an electrical system.