Households

question 133

Multiple Choice

Households

• A) have no influence on the circular flow in a market economy.
• B) purchase resources in the factor market.
• C) sell goods in the product market.
• D) sell resources in the factor market.

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Definitions:

Balance Sheet

A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

A financial statement that reports a company's revenues and expenses over a specific period, resulting in a net profit or loss.

Asset Section

The asset section is part of a balance sheet that lists all assets owned by a company, including current, fixed, and intangible assets.

Utility Expense

Costs incurred for services such as electricity, gas, water, and sewer, which are necessary for operating a business.