In Terms of the Circular Flow Diagram, Households Make Expenditures

question 160

Multiple Choice

In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market.

• A)product; financial
• B)resource; product
• C)product; resource
• D)capital; product

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Definitions:

Antique

An old collectible item that is valued because of its aesthetic or historical significance, often considered to be at least 100 years old.

Pleasure

The feeling of happiness or satisfaction resulting from an enjoyable activity or sensory experience.

Insulation Job

Work involving the installation or replacement of insulating materials in buildings to improve energy efficiency or soundproofing.

Annual Fuel Bill

The total cost incurred for fuel consumption over the course of a year, often important for budgeting in households and businesses.