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Figure 2-1
-Refer to Figure 2-1. Which arrow shows the flow of income payments?
Manufacturing Industries
Sectors of the economy that use machinery, tools, and labor to produce goods for use or sale.
Pure Competition
A market structure characterized by a large number of small firms all producing homogeneous products and facing no barriers to entry or exit.
Utility-maximizing Consumer
A theoretical concept in economics where a consumer seeks to get the maximum satisfaction or utility from their available resources or budget.
Income
Income, particularly when earned regularly through employment or investment returns.
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