Figure 2-18 -Refer to Figure 2-18. One Segment of the Circular Flow

question 408

Multiple Choice

Figure 2-18
-Refer to Figure 2-18. One segment of the circular flow diagram in the Figure shows the flow of funds from market F to economic agents G. The funds represent spending on goods and services. What is market F and who are economic agents G?

• A) F = factor markets; G = households
• B) F = product markets; G = households
• C) F = factor markets; G = firms
• D) F = product markets; G = firms

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Definitions:

Effectiveness

The degree to which objectives are achieved and the extent to which targeted problems are solved, in contrast to efficiency, which focuses more on the resources used.

Workplace Surveys

Tools or questionnaires designed to gather feedback or assess conditions within a workplace, related to employee satisfaction, engagement, or environment.

Norms

Shared expectations or rules that guide behavior of members within a group, society, or culture, often considered the standards of appropriate and acceptable behavior.

Role Expectations

The anticipated behaviors and actions associated with a particular social position or status within a group or society.