The Simple Circular Flow Model Shows That

question 14

Multiple Choice

The simple circular flow model shows that:

• A)firms are the suppliers of resources and the buyers of products.
• B)households are the suppliers of products and the buyers of resources.
• C)households are the buyers of products and the suppliers of resources.
• D)firms are the suppliers of both resources and products.
• E)firms demand both resources and products.

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Definitions:

Strategic Intent

The focused determination to achieve an organization's long-term goals, often embodying its competitive advantage and core values.

Tangible

Physical assets or properties that can be seen, touched, and measured, opposed to intangible assets like patents or copyrights.

Corporate Goal

The long-term objectives that a corporation aims to achieve, which guide its strategic and operational decisions.

Formulate a Strategy

The process of defining a plan or course of action based on an analysis of internal and external environments to achieve specific goals.