Which of the Following Is an Examples of Spending on Factors

question 490

Multiple Choice

Which of the following is an examples of spending on factors of production in the circular flow model?

• A) Orson buys a package of beef jerky at a convenience store.
• B) Bernadette gets a manicure and pedicure before attending her parents' anniversary party.
• C) Landon pays $100 for a season pass to a water park.
• D) The "Suds Bucket" car wash buys new squeegees for all its employees.

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Definitions:

Franchise

A licensing arrangement granting an individual or group the rights to market a company's goods or services within a certain territory.

Fixed Commission

A set fee or percentage of a transaction's value paid to agents or brokers for their services.

Sales Agents

Individuals or entities that are authorized to sell products or services on behalf of a company.

Pricing

The strategy or method a business uses to determine the cost to consumers for goods or services.