In the Simple Circular-Flow Diagram,households

question 35

Multiple Choice

In the simple circular-flow diagram,households

• A)are the only decision makers.
• B)own the factors of production.
• C)are buyers of inputs.
• D)consume only some of the goods and services that firms produce.

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Definitions:

Elitist

Pertains to believing in or supporting a rule by an elite or select group considered to be superior in terms of ability, quality, or social status.

Community Minded

Having an interest and concern for the well-being and development of one's community.

Environmental Pressures

Forces or conditions within an environment that influence the survival, behavior, and evolution of organisms or groups.

Cultural Adaptation

involves adjusting and acclimatizing to a new culture, incorporating its practices and values while often maintaining aspects of one's original culture.