Figure 2-2 -Refer to Figure 2-2.If the Flow of Goods and Services

question 249

Multiple Choice

Figure 2-2
-Refer to Figure 2-2.If the flow of goods and services is part of what is represented by the inner loop of this circular-flow diagram,then

• A)the flow of factors of production is also part of what is represented by the inner loop.
• B)the flow of income paid to households is also part of what is represented by the inner loop.
• C)the flow of revenue to firms is also part of what is represented by the inner loop.
• D)households must be sellers of output.

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Definitions:

Choices

Decisions or options from which one or more may be selected.

Autonomous Stage

The stage in skill development where individuals can perform tasks without external guidance, relying on internalized knowledge and expertise.

Environment

The surrounding conditions, influences, or forces that affect the living organisms or the life cycle of such organisms.

Explore

To investigate, study, or analyze an area of interest or unknown territory in order to learn more about it.