In the Circular Economic Flow Diagram,households

question 73

Multiple Choice

In the circular economic flow diagram,households:

• A) make consumption expenditures and pay for land,labor,and capital.
• B) make consumption expenditures and receive goods and services.
• C) buy resources and receive goods and services.
• D) receive money income and supply resources.

Recognize the roles and functions of management in an organizational setting.

Comprehend the influence of behavioral sciences on organizational behavior.

Understand the basic concepts of Gross Domestic Product (GDP) and its components.

Differentiate between nominal GDP and real GDP and understand the implications of changes in each.