In the Circular-Flow Diagram, a Household Is

question 49

Multiple Choice

In the circular-flow diagram, a household is:

• A)an entity that sells goods and services.
• B)an individual or group of people who share their income.
• C)an entity that purchases factors of production.
• D)a member of a group that is prohibited from buying imported goods and services.

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Definitions:

Self-fulfilling Prophecy

A belief that leads to its own fulfillment due to the behavior of the believer or others.

External Attribution

The process of explaining someone's behavior by referring to external conditions or situations outside of the person's control.

Attractive People

Individuals who are found to be appealing or pleasing in appearance by others.

Cross Cultures

The comparison or interaction between different cultures or cultural practices, often to understand cultural diversity.