According to the Circular Flow Model, Product Markets Are Where

question 141

Multiple Choice

According to the circular flow model, product markets are where:

• A) Households earn their money incomes
• B) Businesses incur their consumption expenditures to households
• C) Businesses acquire their inputs from households
• D) Businesses earn their revenues from households

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Definitions:

Hiring and Firing

The processes of adding new employees to an organization and terminating the employment of existing workers, respectively.

Employee Motivation

The level of energy, commitment, and creativity that a company's workers bring to their jobs.

Fictive Kin

Individuals who are not biologically related but are considered family due to their emotional or social connections.

Extrinsic Rewards

Benefits given by an external source, such as money or praise, to motivate behavior.