In the Circular-Flow Diagram,in the Markets for

question 103

Multiple Choice

In the circular-flow diagram,in the markets for

• A)goods and services,households and firms are both sellers.
• B)goods and services,households are sellers and firms are buyers.
• C)the factors of production,households are sellers and firms are buyers.
• D)the factors of production,households and firms are both buyers.

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Definitions:

SOM

An abbreviation that can refer to various concepts, depending on the context; one example is "Self-Organizing Map," a type of artificial neural network.

SOM

The subset of the Serviceable Available Market that an organization can expect to reach, considering factors like competition and market readiness.

SAM

An abbreviation for Serviceable Available Market, which is the portion of the Total Available Market that can actually be reached by a company.

TAM

Total Addressable Market, which refers to the overall revenue opportunity available or potential market for a product or service.