The Two Basic Markets Shown by the Simple Circular Flow

question 41

Multiple Choice

The two basic markets shown by the simple circular flow model are:

• A) capital goods and consumer goods.
• B) free and controlled.
• C) product and resource.
• D) household and business.

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Definitions:

Sample Survey

A method of collecting data by selecting a subset of individuals from a population to estimate characteristics of the whole population.

Double-Blind Experiment

An experimental method in which neither the participants nor the experimenters know who is receiving a particular treatment, to prevent bias.

Double Blind

An experimental design where neither the participants nor the experimenters know who is receiving a particular treatment, preventing bias in research results.

Explanatory Variable

A factor in a statistical model that is believed to cause or influence changes in a response variable.