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In the Markets for Goods and Services in the Circular-Flow

question 2

True/False

In the markets for goods and services in the circular-flow diagram, households are buyers and firms are sellers.


Definitions:

Decision-making

The cognitive process of selecting a course of action from among multiple alternatives.

Decision Significance

The importance or impact of a decision in terms of outcomes or consequences.

Social Significance

The impact or importance of an action, phenomenon, or aspect of society in influencing cultural, societal, or community values and norms.

Sales Managers

Sales personnel who have oversight of selling efforts at varying levels of the organizational hierarchy.

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