In the Circular-Flow Diagram

question 113

Multiple Choice

In the circular-flow diagram,

• A)firms own the factors of production.
• B)the factors of production are labor,land,and capital.
• C)the factors of production are also called "output."
• D)All of the above are correct.

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Definitions:

Affective

Pertains to emotions or feelings often used in the context of consumer reactions to products or brands.

Behavioral

Relating to or concerned with the actions or activities of organisms in response to external or internal stimuli.

Limited Problem Solving

A consumer decision-making process used for purchases that require a moderate amount of effort and time for information gathering and deliberation.

Past Experience

Previous events or activities that an individual or organization has encountered, affecting their behavior or decisions.