In the Simple Circular-Flow Model

question 130

Multiple Choice

In the simple circular-flow model:

• A) Goods and services are flowing through the resource market
• B) Firms produce and buy goods and services
• C) Households produce and sell goods and services
• D) Firms produce and sell goods and services
• E) Households own and buy resources

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Definitions:

CarMax

A used car retailer based in the United States, known for its large inventory and no-haggle pricing model, aiming to simplify the car buying and selling process.

Verizon

An American multinational telecommunications company known for its wireless services and products.

Frequency

Frequency refers to the number of times an event occurs within a specified period, often used in the context of advertising to indicate how often an ad is displayed or broadcasted.

CPM

Cost Per Thousand Impressions, a marketing metric that denotes the expense of an advertising campaign per one thousand views or impressions.