In the Circular Flow Model

question 1

Multiple Choice

In the circular flow model,

• A)the flow of expenditures measures the dollar value on purchases of resources in the product market
• B)the flow of expenditures measures the dollar value of purchases of both goods and services
• C)the flow of income to the owners of labor only
• D)the flow of expenditures as they move through the loanable funds market
• E)the flow of funds from the product to the resource market

Understand the importance of marketing research in product demand determination and pricing strategies.

Recognize the measuring challenges of productivity in service providers due to the variability of services.

Identify the components of operations planning in manufacturing.

Understand the advantages of standardization in manufacturing processes.

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Definitions:

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