In the Markets for Goods and Services in the Circular-Flow

question 31

Multiple Choice

In the markets for goods and services in the circular-flow diagram,

• A)households and firms are both buyers.
• B)households and firms are both sellers.
• C)households are buyers and firms are sellers.
• D)households are sellers and firms are buyers.

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Definitions:

Periaqueductal Grey

A region in the midbrain involved in pain modulation, fear conditioning, and the integration of pain and emotional responses.

Optical Illusions

Visual phenomena where the perception of reality is distorted, causing the observer to see something different from the actual object or scene.

Vision

The sense that allows the perception of shapes, colors, and depth through the processing of light by the eyes and brain.

Experiences

Events or occurrences which leave an impression on someone.