Statement I

question 93

Multiple Choice

Statement I.The circular flow model oversimplifies the exchanges in our economy.
Statement II.Most of the money received by households in the form of wages,rent,interest,and profits flows back to business firms in the form of consumer expenditures.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Retailers

An intermediary who sells products to the ultimate consumer.

Location Type

The classification of a place based on its characteristics, purpose, or usage, such as residential, commercial, or industrial.

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Unique items crafted from wood by hand, often featuring artistic or functional qualities.

Medium To Expensive Price Range

Pricing strategy that positions products or services between the middle and higher end of the market.