In the Circular Flow Diagram,households Supply __________ to Business Firms

question 134

Short Answer

In the circular flow diagram,households supply __________ to business firms.

---

Definitions:

Machinery

Machines or automated systems used in the manufacturing process or to carry out various tasks. Machinery is considered a long-term, fixed asset in accounting.

Straight-Line Method

A depreciation method that allocates the cost of an asset evenly over its useful life.

Obsolescence

The process of becoming outdated or no longer used, often because of advancements in technology.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life.