According to the Circular Flow Diagram,in Return for Land,labor,capital and Entrepreneurial

question 213

Short Answer

According to the circular flow diagram,in return for land,labor,capital and entrepreneurial ability,households receive ______________________________.

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Definitions:

Louisiana Purchase

The acquisition by the United States of America of over 800,000 square miles of territory from France in 1803, doubling the size of the nation.

Economic Potential

The capacity of a country, region, or sector to generate goods and services and grow its economy, influenced by resources, labor, technology, and innovation.

Native Americans

The indigenous peoples of the United States, including the cultures, tribes, and individuals who inhabited the land prior to European colonization.

Jefferson Administration

The presidential term of Thomas Jefferson, the third President of the United States, from 1801 to 1809, known for the Louisiana Purchase and the Lewis and Clark Expedition.